WealthPlan Investment Management LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,182 shares of the technology company’s stock, valued at approximately $616,000.
Several other hedge funds also recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisor L.P grew its position in shares of International Business Machines by 97.6% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock valued at $33,459,000 after purchasing an additional 127,093 shares during the period. Roundview Capital LLC purchased a new stake in shares of International Business Machines in the first quarter valued at $203,000. Sei Investments Co. grew its position in shares of International Business Machines by 35.7% in the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock valued at $23,157,000 after purchasing an additional 46,756 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of International Business Machines by 1.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock valued at $12,438,000 after purchasing an additional 1,821 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of International Business Machines by 1.5% in the first quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock valued at $49,698,000 after purchasing an additional 5,506 shares during the period. Hedge funds and other institutional investors own 55.90% of the company’s stock.
International Business Machines Trading Up 1.2 %
Shares of IBM opened at $124.70 on Friday. The stock’s 50-day moving average is $135.05 and its two-hundred day moving average is $135.12. The stock has a market cap of $113.12 billion, a PE ratio of 70.85, a P/E/G ratio of 3.25 and a beta of 0.85. International Business Machines Co. has a 12 month low of $115.54 and a 12 month high of $153.21. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.92 and a quick ratio of 0.87.
International Business Machines (NYSE:IBM – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The technology company reported $3.60 EPS for the quarter, missing the consensus estimate of $3.61 by ($0.01). International Business Machines had a return on equity of 41.24% and a net margin of 2.71%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.38 billion. During the same quarter last year, the firm posted $3.35 EPS. The company’s revenue was up .0% compared to the same quarter last year. Equities analysts forecast that International Business Machines Co. will post 9.46 earnings per share for the current fiscal year.
International Business Machines Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were paid a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Thursday, February 9th. International Business Machines’s dividend payout ratio (DPR) is 375.00%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Stifel Nicolaus lifted their target price on International Business Machines from $140.00 to $158.00 and gave the company a “buy” rating in a report on Monday, January 23rd. Edward Jones cut International Business Machines from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Evercore ISI lifted their target price on International Business Machines from $135.00 to $150.00 in a report on Tuesday, January 17th. Citigroup lifted their target price on International Business Machines from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. Finally, BMO Capital Markets lifted their target price on International Business Machines from $148.00 to $155.00 and gave the company a “market perform” rating in a report on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $142.73.
About International Business Machines
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other. The Software segment combines hybrid cloud platform and software solutions to help clients become more data-driven, and to automate, secure and modernize their environments.
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