Polaris Wealth Advisory Group LLC bought a new stake in shares of International Business Machines Co. (NYSE: IBM – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,943 shares of the technology company stock, valued at approximately $ 250,000.
Several other hedge funds have also made changes to their positions in the company. Kwmg LLC boosted its holdings in shares of International Business Machines by 12.3% during the 1st quarter. Kwmg LLC now owns 30,047 shares of the technology company stock valued at $ 3,907,000 after buying an additional 3,296 shares in the last quarter. Resonant Capital Advisors LLC bought a new position in International Business Machines in the 1st quarter worth about $ 200,000. Mitchell Sinkler & Starr PA bought a new position in International Business Machines in the 1st quarter worth about $ 340,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in International Business Machines by 10.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 173,800 shares of the technology company stock worth $ 22,597,000 after purchasing an additional 16,667 shares in the last quarter. Finally, MJP Associates Inc. ADV boosted its stake in International Business Machines by 25.5% in the 1st quarter. MJP Associates Inc. ADV now owns 4,873 shares of the technology company stock worth $ 635,000 after purchasing an additional 991 shares in the last quarter. Hedge funds and other institutional investors own 55.22% of the company stock.
International Business Machines stock opened at $ 141.86 on Wednesday. The firm has a 50 day moving average of $ 136.51 and a 200 day moving average of $ 132.13. The firm has a market capitalization of $ 127.59 billion, a price-to-earnings ratio of 23.26, a P / E / G ratio of 1.59 and a beta of 1.00. International Business Machines Co. has a 12-month low of $ 114.56 and a 12-month high of $ 147.50. 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 (NYSE: IBM – Get Rating) last released its earnings results on Tuesday, April 19th. The technology company reported $ 1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.34 by $ 0.06. The company had revenue of $ 14.20 billion during the quarter, compared to analyst estimates of $ 13.84 billion. International Business Machines had a net margin of 8.21% and a return on equity of 42.14%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $ 1.77 EPS. On average, analysts predict that International Business Machines Co. will post 9.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th were paid a $ 1.65 dividend. This represents a $ 6.60 annualized dividend and a yield of 4.65%. This is an increase from International Business Machines’s previous quarterly dividend of $ 1.64. The ex-dividend date of this dividend was Monday, May 9th. International Business Machines’s dividend payout ratio is presently 108.20%.
A number of brokerages have weighed in on IBM. Tigress Financial boosted their target price 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. Morgan Stanley boosted their target price on International Business Machines from $ 150.00 to $ 157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 20th. StockNews.com began coverage on International Business Machines in a research report on Thursday, March 31st. They issued a “buy” rating for the company. 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. Finally, BMO Capital Markets boosted their target price on International Business Machines from $ 148.00 to $ 152.00 and gave the stock a “market perform” 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 stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $ 147.25.
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the company 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 transaction, the insider now directly owns 22,301,536 shares in the company, valued at approximately $ 311,106,427.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.04% of the company stock.
International Business Machines Company Profile: (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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