Delta Asset Management LLC TN lifted its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 23.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,096 shares of the technology company’s stock after acquiring an additional 1,160 shares during the period. Delta Asset Management LLC TN’s holdings in International Business Machines were worth $816,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. WFA of San Diego LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth $89,000. GeoWealth Management LLC grew its position in International Business Machines by 155.9% in the 2nd quarter. GeoWealth Management LLC now owns 5,576 shares of the technology company’s stock worth $747,000 after purchasing an additional 3,397 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of International Business Machines by 2.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 1,156,799 shares of the technology company’s stock valued at $155,636,000 after purchasing an additional 29,282 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of International Business Machines by 10.3% during the 2nd quarter. ProShare Advisors LLC now owns 1,716,277 shares of the technology company’s stock worth $229,655,000 after purchasing an additional 159,853 shares during the period. Finally, Profund Advisors LLC grew its position in International Business Machines by 26.6% during the second quarter. Profund Advisors LLC now owns 21,144 shares of the technology company’s stock valued at $2,829,000 after buying an additional 4,442 shares during the period. Institutional investors own 56.16% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. BMO Capital Markets boosted their price objective on International Business Machines from $152.00 to $155.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. Royal Bank of Canada reduced their target price on International Business Machines from $188.00 to $179.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Wedbush reiterated a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a research report on Monday, November 13th. Finally, Morgan Stanley cut their price objective on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $149.09.
International Business Machines Price Performance
Shares of IBM stock traded up $0.83 during trading on Monday, hitting $153.72. The company had a trading volume of 874,026 shares, compared to its average volume of 4,476,988. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $153.80. The stock has a market capitalization of $140.36 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 4.16 and a beta of 0.76. The company has a quick ratio of 0.86, a current ratio of 0.91 and a debt-to-equity ratio of 2.11. The stock’s 50-day moving average is $144.33 and its two-hundred day moving average is $138.97.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.08. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The firm had revenue of $14.75 billion for the quarter, compared to analyst estimates of $14.73 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, analysts predict that International Business Machines Co. will post 9.45 EPS for the current fiscal year.
International Business Machines Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be given a dividend of $1.66 per share. The ex-dividend date is Thursday, November 9th. This represents a $6.64 dividend on an annualized basis and a yield of 4.32%. International Business Machines’s payout ratio is 88.06%.
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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