CRA Financial Services LLC raised its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,964 shares of the technology company’s stock after purchasing an additional 297 shares during the period. CRA Financial Services LLC’s holdings in International Business Machines were worth $530,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Moneta Group Investment Advisors LLC increased its holdings in shares of International Business Machines by 98,797.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock valued at $1,553,876,000 after purchasing an additional 11,017,849 shares during the last quarter. Norges Bank acquired a new position in shares of International Business Machines in the fourth quarter valued at $876,014,000. Morgan Stanley increased its holdings in shares of International Business Machines by 22.8% in the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after purchasing an additional 3,084,458 shares during the last quarter. Providence Capital Advisors LLC boosted its position in shares of International Business Machines by 13,609.0% in the first quarter. Providence Capital Advisors LLC now owns 2,829,537 shares of the technology company’s stock valued at $21,584,000 after acquiring an additional 2,808,897 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of International Business Machines by 213.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,987,009 shares of the technology company’s stock valued at $129,002,000 after acquiring an additional 2,035,129 shares during the period. 56.16% of the stock is currently owned by institutional investors and hedge funds.
International Business Machines Price Performance
Shares of IBM stock traded down $1.36 on Friday, reaching $145.99. The company had a trading volume of 6,234,033 shares, compared to its average volume of 4,554,644. The stock has a market capitalization of $133.00 billion, a PE ratio of 67.59, a price-to-earnings-growth ratio of 3.72 and a beta of 0.85. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a one year low of $115.54 and a one year high of $153.21. The business’s 50-day moving average is $142.59 and its 200 day moving average is $133.67.
International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The company had revenue of $15.48 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 9.43 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th were paid a $1.66 dividend. This represents a $6.64 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Wednesday, August 9th. International Business Machines’s dividend payout ratio is currently 307.41%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on IBM. BMO Capital Markets boosted their target price on shares of International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a research report on Monday, July 17th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $140.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Bank of America boosted their target price on shares of International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. JPMorgan Chase & Co. began coverage on shares of International Business Machines in a research report on Friday, July 7th. They issued a “neutral” rating and a $145.00 target price for the company. Finally, Wedbush reissued a “neutral” rating and issued a $140.00 target price on shares of International Business Machines in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $142.91.
International Business Machines Profile
International Business Machines Corporation, together with its subsidiaries, 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; 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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