Edgar Lomax Co. VA Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Edgar Lomax Co. VA reduced its position in shares of International Business Machines Co. (NYSE:IBMFree Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 249,318 shares of the technology company’s stock after selling 10,000 shares during the period. International Business Machines comprises approximately 2.7% of Edgar Lomax Co. VA’s portfolio, making the stock its 16th largest position. Edgar Lomax Co. VA’s holdings in International Business Machines were worth $40,776,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IBM. Naples Money Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth $28,000. Briaud Financial Planning Inc purchased a new stake in International Business Machines in the third quarter valued at $31,000. Stone House Investment Management LLC lifted its position in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. lifted its position in International Business Machines by 67.9% in the third 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. Finally, Cordant Inc. lifted its position in International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM stock traded up $3.55 during trading hours on Tuesday, hitting $173.47. The company’s stock had a trading volume of 6,457,288 shares, compared to its average volume of 4,803,409. The business has a fifty day moving average of $180.93 and a 200-day moving average of $173.55. The stock has a market cap of $159.35 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 4.16 and a beta of 0.74. International Business Machines Co. has a twelve month low of $125.01 and a twelve month high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBMGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.36 earnings per share. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.91 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.85%. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IBM shares. Jefferies Financial Group reduced their price target on shares of 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. UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Bank of America upped their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Sanford C. Bernstein upped their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $181.29.

Read Our Latest Analysis on IBM

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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