Platte River Wealth Advisors LLC reduced its position in International Business Machines Co. (NYSE: IBM – Get Rating) by 21.4% in the first quarter, Holdings Channel.com reports. The fund owned 3,665 shares of the technology company stock after selling 1,000 shares during the quarter. Platte River Wealth Advisors LLC’s holdings in International Business Machines were worth $ 477,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. IFS Advisors LLC bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $ 28,000. Total Clarity Wealth Management Inc. raised its stake in shares of International Business Machines by 537.5% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 255 shares of the technology company stock worth $ 34,000 after acquiring an additional 215 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of International Business Machines in the fourth quarter worth $ 37,000. Claremont Financial Group Inc. purchased a new position in shares of International Business Machines in the fourth quarter worth $ 38,000. Finally, Bray Capital Advisors boosted its holdings in International Business Machines by 100.0% in the fourth quarter. Bray Capital Advisors now owns 402 shares of the technology company stock valued at $ 54,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 55.22% of the company stock.
A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of International Business Machines from $ 162.00 to $ 165.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Morgan Stanley upped their price target on shares of International Business Machines from $ 150.00 to $ 157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Credit Suisse Group boosted their target price 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. Tigress Financial upped their price target on shares of International Business Machines from $ 133.00 to $ 139.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Finally, BMO Capital Markets increased their target price on shares of International Business Machines from $ 148.00 to $ 152.00 and gave the stock a “market perform” rating in a report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, International Business Machines currently 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 firm’s stock in a transaction 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 directly owns 22,301,536 shares in the company, valued at $ 311,106,427.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by company insiders.
NYSE IBM opened at $ 142.80 on Tuesday. 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 company has a market capitalization of $ 128.44 billion, a P / E ratio of 23.41, a P / E / G ratio of 1.59 and a beta of 1.00. International Business Machines Co. has a one year low of $ 114.56 and a one year high of $ 147.50. The stock has a 50 day moving average price of $ 136.25 and a 200-day moving average price of $ 132.07.
International Business Machines (NYSE: IBM – Get Rating) last posted its earnings results on Tuesday, April 19th. The technology company reported $ 1.40 EPS for the quarter, beating analysts’ consensus estimates of $ 1.34 by $ 0.06. The firm had revenue of $ 14.20 billion during the quarter, compared to the estimate consensus of $ 13.84 billion. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The company quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $ 1.77 EPS. As a group, equities analysts predict that International Business Machines Co. will post 9.89 EPS 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 given a $ 1.65 dividend. The ex-dividend date of this dividend was Monday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $ 1.64. This represents a $ 6.60 dividend on an annualized basis and a yield of 4.62%. International Business Machines’s dividend payout ratio (DPR) is currently 108.20%.
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.
Featured Articles:
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE: IBM – Get Rating).
Receive News & Ratings for International Business Machines Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for International Business Machines and related companies with MarketBeat.com’s FREE daily email newsletter.
.