Sigma Planning Corp lifted its holdings in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 6.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,338 shares of the technology company’s stock after acquiring an additional 2,027 shares during the quarter. Sigma Planning Corp’s holdings in International Business Machines were worth $4,465,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of IBM. TIAA FSB boosted its stake in International Business Machines by 13.7% in the 4th quarter. TIAA FSB now owns 115,187 shares of the technology company’s stock valued at $15,369,000 after purchasing an additional 13,835 shares during the period. CWM LLC bought a new stake in International Business Machines in the 4th quarter valued at $6,798,000. Kestra Advisory Services LLC boosted its stake in International Business Machines by 12.9% in the 4th quarter. Kestra Advisory Services LLC now owns 117,880 shares of the technology company’s stock valued at $15,756,000 after purchasing an additional 13,478 shares during the period. Graypoint LLC boosted its stake in International Business Machines by 47.9% in the 1st quarter. Graypoint LLC now owns 3,471 shares of the technology company’s stock valued at $451,000 after purchasing an additional 1,124 shares during the period. Finally, Sciencast Management LP bought a new stake in International Business Machines in the 4th quarter valued at $1,366,000. Institutional investors own 55.22% of the company’s stock.
Several research firms recently issued reports on IBM. Morgan Stanley boosted their price target 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. StockNews.com assumed coverage on International Business Machines in a report on Thursday, March 31st. They issued a “buy” rating for the company. BMO Capital Markets raised their price objective on International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a report on Wednesday, April 20th. Credit Suisse Group lifted their price objective on International Business Machines from $165.00 to $166.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Finally, Bank of America lifted their price objective on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $147.25.
In related news, major shareholder Business Machine International sold 22,301,536 shares of the business’s stock in a transaction 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 sale, the insider now owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.
International Business Machines stock opened at $141.19 on Friday. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.87 and a current ratio of 0.92. International Business Machines Co. has a 52 week low of $114.56 and a 52 week high of $147.50. The stock has a market capitalization of $126.99 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 1.59 and a beta of 1.00. The stock has a fifty-day moving average of $136.58 and a 200-day moving average of $132.32.
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, topping analysts’ consensus estimates 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 company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $13.84 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. International Business Machines’s revenue was up 7.7% on a year-over-year basis. On average, research 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. Investors of record on Tuesday, May 10th were given a dividend of $1.65 per share. The ex-dividend date was Monday, May 9th. This represents a $6.60 dividend on an annualized basis and a yield of 4.67%. 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%.
International Business Machines 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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