Wealth Enhancement Advisory Services LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,559 shares of the technology company’s stock after selling 332 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in International Business Machines were worth $1,636,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in IBM. IFS Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $28,000. Total Clarity Wealth Management Inc. raised its stake in International Business Machines by 537.5% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 255 shares of the technology company’s stock worth $34,000 after acquiring an additional 215 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in International Business Machines during the fourth quarter worth $37,000. Claremont Financial Group Inc. acquired a new position in International Business Machines during the fourth quarter worth $38,000. Finally, Bray Capital Advisors increased its stake in shares of International Business Machines by 100.0% in the fourth quarter. Bray Capital Advisors now owns 402 shares of the technology company’s stock valued at $54,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 55.22% of the company’s stock.
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 22,301,536 shares in the company, valued at $311,106,427.20. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.04% of the stock is currently owned by company insiders.
Shares of IBM opened at $141.86 on Wednesday. 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 Co. has a 1 year low of $114.56 and a 1 year high of $147.50. The stock has a market cap of $127.59 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 1.59 and a beta of 1.00. The stock’s 50-day moving average price is $136.51 and its two-hundred day moving average price is $132.13.
International Business Machines (NYSE:IBM – Get Rating) last issued its earnings results on Tuesday, April 19th. The technology company reported $1.40 earnings per share (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 firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $13.84 billion. During the same quarter last year, the business earned $1.77 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Co. will post 9.89 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th were issued 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 4.65%. This is a boost from International Business Machines’s previous quarterly dividend of $1.64. International Business Machines’s dividend payout ratio (DPR) is 108.20%.
A number of analysts have recently weighed in on IBM shares. Bank of America raised their target price on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, April 20th. StockNews.com started coverage on International Business Machines in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Credit Suisse Group raised their target price on International Business Machines from $165.00 to $166.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. BMO Capital Markets raised their target price on International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a research note on Wednesday, April 20th. Finally, Morgan Stanley raised their target price 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target 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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