Mattern Wealth Management LLC lifted its stake in International Business Machines Co. (NYSE: IBM – Get Rating) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,293 shares of the technology company stock after acquiring an additional 100 shares during the period. Mattern Wealth Management LLC’s holdings in International Business Machines were worth $ 298,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in IBM. Thrivent Financial for Lutherans increased its position in International Business Machines by 20.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 68,353 shares of the technology company stock valued at $ 9,648,000 after buying an additional 11,645 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of International Business Machines by 69.2% in the third quarter. Personal CFO Solutions LLC now owns 6,849 shares of the technology company stock valued at $ 952,000 after purchasing an additional 2,802 shares during the period. CFS Investment Advisory Services LLC acquired a new position in shares of International Business Machines in the third quarter valued at about $ 356,000. EP Wealth Advisors LLC increased its holdings in shares of International Business Machines by 5.1% in the third quarter. EP Wealth Advisors LLC now owns 10,563 shares of the technology company stock valued at $ 1,468,000 after purchasing an additional 513 shares during the period. Finally, Cambridge Trust Co. increased its holdings in shares of International Business Machines by 12.8% in the third quarter. Cambridge Trust Co. now owns 13,872 shares of the technology company stock valued at $ 1,927,000 after purchasing an additional 1,575 shares during the period. 55.22% of the stock is currently owned by institutional investors.
NYSE: IBM opened at $ 142.06 on Friday. International Business Machines Co. has a one year low of $ 114.56 and a one year high of $ 147.50. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.87 and a current ratio of 0.92. The stock has a market cap of $ 127.77 billion, a PE ratio of 23.29, a P / E / G ratio of 1.55 and a beta of 1.00. The stock has a 50 day moving average price of $ 135.92 and a 200 day moving average price of $ 131.81.
International Business Machines (NYSE: IBM – Get Rating) last posted its quarterly earnings results on Tuesday, April 19th. The technology company reported $ 1.40 EPS for the quarter, beating the consensus estimate of $ 1.34 by $ 0.06. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The firm had revenue of $ 14.20 billion during the quarter, compared to analysts’ expectations of $ 13.84 billion. During the same quarter last year, the firm earned $ 1.77 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were issued a $ 1.65 dividend. This represents a $ 6.60 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Monday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $ 1.64. International Business Machines’s dividend payout ratio (DPR) is currently 108.20%.
A number of brokerages have recently weighed in on IBM. Morgan Stanley increased their price objective on International Business Machines from $ 150.00 to $ 157.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Tigress Financial upped their target price on International Business Machines from $ 133.00 to $ 139.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. BMO Capital Markets upped their target price on International Business Machines from $ 148.00 to $ 152.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 20th. Credit Suisse Group increased their price target on International Business Machines from $ 165.00 to $ 166.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Finally, Bank of America raised their target price on International Business Machines from $ 162.00 to $ 165.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $ 147.25.
In related news, major shareholder Business Machine International sold 22,301,536 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $ 13.95, for a total value of $ 311,106,427.20. Following the completion of the sale, the insider now owns 22,301,536 shares of the company stock, valued at $ 311,106,427.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.
About International Business Machines: (Get Rating)
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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