Mayflower Financial Advisors LLC grew its position in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,158 shares of the technology company’s stock after purchasing an additional 5,679 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in International Business Machines were worth $5,091,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Duff & Phelps Investment Management Co. boosted its holdings in International Business Machines by 0.8% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 9,330 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 76 shares in the last quarter. Rossmore Private Capital boosted its holdings in International Business Machines by 1.2% in the 4th quarter. Rossmore Private Capital now owns 6,418 shares of the technology company’s stock valued at $858,000 after purchasing an additional 78 shares in the last quarter. Twin Capital Management Inc. boosted its holdings in International Business Machines by 1.7% in the 4th quarter. Twin Capital Management Inc. now owns 4,909 shares of the technology company’s stock valued at $656,000 after purchasing an additional 80 shares in the last quarter. Joel Isaacson & Co. LLC lifted its position in shares of International Business Machines by 0.9% during the 1st quarter. Joel Isaacson & Co. LLC now owns 9,059 shares of the technology company’s stock valued at $1,143,000 after acquiring an additional 81 shares during the period. Finally, Keel Point LLC lifted its position in shares of International Business Machines by 2.4% during the 4th quarter. Keel Point LLC now owns 3,505 shares of the technology company’s stock valued at $468,000 after acquiring an additional 83 shares during the period. 55.22% of the stock is currently owned by institutional investors.
IBM has been the subject of a number of research reports. Morgan Stanley lifted their price target on shares of International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Credit Suisse Group lifted their price target on shares of International Business Machines from $165.00 to $166.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. Bank of America raised their price target on shares of International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. BMO Capital Markets raised their price target on shares of International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a research report on Wednesday, April 20th. Finally, Tigress Financial lifted their price objective on International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a research report on Thursday, April 21st. One equity research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $147.25.
Shares of International Business Machines stock opened at $141.12 on Friday. The company has a fifty day moving average price of $136.64 and a 200 day moving average price of $132.51. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 2.44. International Business Machines Co. has a twelve month low of $114.56 and a twelve month high of $146.95. The stock has a market cap of $126.93 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.58 and a beta of 0.93.
International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings data on Tuesday, April 19th. The technology company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. International Business Machines had a net margin of 8.21% and a return on equity of 42.14%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.84 billion. During the same quarter in the previous year, the business posted $1.77 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts forecast that International Business Machines Co. will post 9.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th were issued a $1.65 dividend. The ex-dividend date was Monday, May 9th. This represents a $6.60 dividend on an annualized basis and a yield of 4.68%. This is a positive change from International Business Machines’ previous quarterly dividend of $1.64. International Business Machines’s payout ratio is currently 108.20%.
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $13.95, for a total value of $311,106,427.20. Following the transaction, the insider now owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.
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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