International Business Machines Co. (NYSE:IBM) is Carson Advisory Inc.’s 9th Largest Position

Carson Advisory Inc. lifted its position in International Business Machines Co. (NYSE:IBMFree Report) by 16.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,664 shares of the technology company’s stock after purchasing an additional 2,088 shares during the quarter. International Business Machines accounts for about 2.0% of Carson Advisory Inc.’s holdings, making the stock its 9th largest holding. Carson Advisory Inc.’s holdings in International Business Machines were worth $2,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Schonfeld Strategic Advisors LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth about $801,000. Harbour Investments Inc. lifted its stake in shares of International Business Machines by 830.6% in the 3rd quarter. Harbour Investments Inc. now owns 6,151 shares of the technology company’s stock valued at $863,000 after acquiring an additional 5,490 shares during the last quarter. Financial Gravity Asset Management Inc. lifted its stake in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the last quarter. Creative Planning lifted its stake in shares of International Business Machines by 7.8% in the 3rd quarter. Creative Planning now owns 243,112 shares of the technology company’s stock valued at $34,109,000 after acquiring an additional 17,539 shares during the last quarter. Finally, CM Wealth Advisors LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $256,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Up 0.8 %

Shares of NYSE:IBM traded up $1.38 during trading on Wednesday, hitting $177.86. The stock had a trading volume of 3,461,517 shares, compared to its average volume of 4,463,182. International Business Machines Co. has a 12 month low of $132.57 and a 12 month high of $199.18. The company has a market capitalization of $163.38 billion, a PE ratio of 20.14, a PEG ratio of 4.38 and a beta of 0.71. The firm’s fifty day moving average is $170.27 and its 200 day moving average is $177.29. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBMGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 EPS. Analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.76%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IBM shares. Bank of America boosted their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Jefferies Financial Group lowered their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Wedbush upped their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets lowered their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $182.53.

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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.

See Also

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

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