Western Wealth Management LLC grew its position in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 32.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,987 shares of the technology company’s stock after purchasing an additional 2,910 shares during the period. Western Wealth Management LLC’s holdings in International Business Machines were worth $1,693,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of International Business Machines by 1.9% during the first quarter. Vanguard Group Inc. now owns 77,002,099 shares of the technology company’s stock valued at $10,011,813,000 after purchasing an additional 1,448,444 shares during the period. BlackRock Inc. increased its stake in shares of International Business Machines by 1.7% in the first quarter. BlackRock Inc. now owns 66,591,742 shares of the technology company’s stock worth $8,658,261,000 after buying an additional 1,139,368 shares during the last quarter. State Street Corp increased its stake in shares of International Business Machines by 1.3% in the first quarter. State Street Corp now owns 53,755,675 shares of the technology company’s stock worth $6,989,313,000 after buying an additional 706,994 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of International Business Machines by 7.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after buying an additional 1,105,170 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of International Business Machines in the fourth quarter worth $1,025,028,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.
International Business Machines Price Performance
Shares of NYSE IBM opened at $122.01 on Tuesday. International Business Machines Co. has a fifty-two week low of $114.56 and a fifty-two week high of $146.00. The firm’s 50-day simple moving average is $130.19 and its 200 day simple moving average is $133.00. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 2.28. The stock has a market cap of $110.20 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.87 and a beta of 0.84.
International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.02. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The business had revenue of $15.54 billion for the quarter, compared to analysts’ expectations of $15.18 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Equities analysts expect that International Business Machines Co. will post 9.39 EPS for the current year.
International Business Machines Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th were given a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 5.41%. The ex-dividend date was Tuesday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 107.14%.
Insiders Place Their Bets
In other International Business Machines news, Director David N. Farr purchased 1,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $125.00 per share, for a total transaction of $125,000.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $125,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. Societe Generale decreased their price objective on shares of International Business Machines to $129.00 in a report on Tuesday, September 13th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. BMO Capital Markets reduced their price target on shares of International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. Morgan Stanley reduced their price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Finally, Credit Suisse Group boosted their price target on shares of International Business Machines from $156.00 to $163.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $145.18.
International Business Machines Company Profile
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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