Professional Advisory Services Inc. increased its holdings in shares of International Business Machines Co. (NYSE: IBM – Get Rating) by 21.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,863 shares of the technology company stock after acquiring an additional 680 shares during the period. Professional Advisory Services Inc.’s holdings in International Business Machines were worth $ 502,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its position in International Business Machines by 5.1% during the 3rd 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. Financial Advisors Network Inc. raised its holdings in International Business Machines by 7.9% during the 3rd quarter. Financial Advisors Network Inc. now owns 4,668 shares of the technology company stock worth $ 555,000 after buying an additional 340 shares during the period. Carroll Financial Associates Inc. raised its holdings in International Business Machines by 14.6% during the 4th quarter. Carroll Financial Associates Inc. now owns 14,706 shares of the technology company stock worth $ 1,935,000 after buying an additional 1,868 shares during the period. Trust Co. of Toledo NA OH grew its stake in shares of International Business Machines by 4.0% during the 4th quarter. Trust Co. of Toledo NA OH now owns 8,929 shares of the technology company stock worth $ 1,193,000 after acquiring an additional 342 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. grew its stake in shares of International Business Machines by 1.8% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 25,542 shares of the technology company stock worth $ 3,414,000 after acquiring an additional 454 shares in the last quarter. Institutional investors own 55.22% of the company stock.
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 transaction of $ 311,106,427.20. Following the completion of the transaction, the insider now directly owns 22,301,536 shares of the company stock, valued at $ 311,106,427.20. The sale was disclosed in a filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.
Shares of IBM stock opened at $ 142.06 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 2.44. The company fifty day moving average price is $ 135.92 and its 200-day moving average price is $ 131.93. The stock has a market cap of $ 127.77 billion, a PE ratio of 23.29, a price-to-earnings-growth 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.
International Business Machines (NYSE: IBM – Get Rating) last released its quarterly earnings data on Tuesday, April 19th. The technology company reported $ 1.40 earnings per share for the quarter, beating the consensus estimate of $ 1.34 by $ 0.06. The firm had revenue of $ 14.20 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $ 1.77 earnings per share. On average, sell-side analysts forecast that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders 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 an increase from International Business Machines’s previous quarterly dividend of $ 1.64. International Business Machines’s payout ratio is 108.20%.
IBM has been the topic of several recent research reports. Tigress Financial raised their target price on shares of International Business Machines from $ 133.00 to $ 139.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. BMO Capital Markets boosted their price objective 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. Bank of America boosted their price objective on International Business Machines from $ 162.00 to $ 165.00 and gave the stock a “buy” rating in a research report on Wednesday, April 20th. Morgan Stanley boosted their price objective on International Business Machines from $ 150.00 to $ 157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Finally, StockNews.com initiated coverage on International Business Machines in a research note on Thursday, March 31st. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $ 147.25.
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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