Wedmont Private Capital Acquires 920 Shares of International Business Machines Co. (NYSE:IBM)

Wedmont Private Capital boosted its holdings in shares of International Business Machines Co. (NYSE:IBMFree Report) by 10.9% during the 1st quarter, Holdings Channel reports. The firm owned 9,373 shares of the technology company’s stock after buying an additional 920 shares during the period. Wedmont Private Capital’s holdings in International Business Machines were worth $1,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after purchasing an additional 365,388 shares during the period. Morgan Stanley grew its holdings in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after buying an additional 1,919,490 shares in the last quarter. Northern Trust Corp grew its holdings in International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after buying an additional 404,948 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after buying an additional 61,028 shares in the last quarter. Finally, Norges Bank purchased a new position in International Business Machines during the 4th quarter valued at approximately $1,019,009,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.8 %

IBM traded down $1.44 during trading hours on Friday, reaching $172.48. 2,023,358 shares of the company’s stock traded hands, compared to its average volume of 4,531,521. The firm has a 50-day moving average price of $171.11 and a 200 day moving average price of $175.93. International Business Machines Co. has a 52-week low of $129.18 and a 52-week high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $158.44 billion, a PE ratio of 19.55, a PEG ratio of 4.21 and a beta of 0.72.

International Business Machines (NYSE:IBMGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the business earned $1.36 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.87%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is presently 75.65%.

Analysts Set New Price Targets

Several research firms have weighed in on IBM. Morgan Stanley cut their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Jefferies Financial Group cut their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. JPMorgan Chase & Co. cut their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a report on Wednesday, May 22nd. Finally, Wedbush raised their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $181.29.

Check Out Our Latest Analysis on International Business Machines

International Business Machines Company Profile

(Free Report)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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