Rhumbline Advisers reduced its position in International Business Machines Co. (Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,683,264 shares of the technology company's stock after selling 26,578 shares during the period. Rhumbline Advisers owned approximately 0.18% of International Business Machines worth $418,560,000 as of its most recent SEC filing. 2e3e6e
Several other hedge funds and other institutional investors have also modified their holdings of the company. Treasurer of the State of North Carolina lifted its position in International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at approximately $242,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines during the 4th quarter worth $373,000. Truist Financial Corp boosted its position in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after acquiring an additional 49,591 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new position in International Business Machines during the 4th quarter worth $3,000,000. 58.96% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on IBM. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, UBS Group reaffirmed a "sell" rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $249.06.
Get Our Latest Research Report on International Business Machines
IBM stock traded down $0.08 during midday trading on Wednesday, hitting $265.12. 920,850 shares of the company's stock were exchanged, compared to its average volume of 4,203,425. The stock's fifty day moving average price is $247.02 and its 200-day moving average price is $240.81. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market cap of $246.40 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a one year low of $163.88 and a one year high of $269.28.
International Business Machines (Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The company's quarterly revenue was up .5% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.53%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.
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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