Parsec Financial Management Inc. reduced its holdings in International Business Machines Corp. (NYSE:IBM) by 4.0% during the 4th quarter, Holdings Channel reports. The fund owned 48,504 shares of the technology company’s stock after selling 2,040 shares during the period. Parsec Financial Management Inc.’s holdings in International Business Machines were worth $7,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in IBM. ETF Managers Group LLC purchased a new stake in shares of International Business Machines in the 2nd quarter valued at $121,000. Cerebellum GP LLC purchased a new stake in International Business Machines during the fourth quarter worth $126,000. Horan Capital Advisors LLC. purchased a new stake in International Business Machines during the third quarter worth $136,000. MPS Loria Financial Planners LLC purchased a new stake in International Business Machines during the second quarter worth $156,000. Finally, Risk Paradigm Group LLC purchased a new stake in International Business Machines during the second quarter worth $165,000. 56.18% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Diane J. Gherson sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $156.00, for a total transaction of $780,000.00. Following the completion of the sale, the insider now directly owns 20,581 shares in the company, valued at $3,210,636. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick H. Waddell acquired 610 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were purchased at an average price of $163.38 per share, with a total value of $99,661.80. The disclosure for this purchase can be found here. 0.23% of the stock is owned by corporate insiders.
Shares of International Business Machines Corp. (NYSE IBM) opened at $159.31 on Friday. The company has a market cap of $146,751.28, a PE ratio of 11.52, a PEG ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29. International Business Machines Corp. has a 12-month low of $139.13 and a 12-month high of $179.49.
International Business Machines (NYSE:IBM) last issued its earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, beating the Zacks’ consensus estimate of $5.17 by $0.01. The business had revenue of $22.54 billion during the quarter, compared to analysts’ expectations of $22.03 billion. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.01 earnings per share. sell-side analysts anticipate that International Business Machines Corp. will post 13.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 9th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 98.20%.
About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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