Calton & Associates Inc. bought a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,040 shares of the technology company's stock, valued at approximately $1,005,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines in the first quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines in the fourth quarter valued at $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines in the first quarter valued at about $45,000. Institutional investors and hedge funds own 58.96% of the company's stock.
International Business Machines Price Performance
Shares of IBM stock traded down $2.35 during trading hours on Tuesday, hitting $282.36. The company's stock had a trading volume of 2,775,847 shares, compared to its average volume of 4,222,559. The business has a fifty day moving average of $276.39 and a 200-day moving average of $254.50. The stock has a market cap of $262.43 billion, a price-to-earnings ratio of 48.64, a P/E/G ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $181.81 and a twelve month high of $296.16. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09.
International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 earnings per share. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.
International Business Machines Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.38%. International Business Machines's dividend payout ratio is presently 115.66%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on IBM. UBS Group reaffirmed a "sell" rating and issued a $195.00 target price (up from $170.00) on shares of International Business Machines in a report on Wednesday, July 9th. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Morgan Stanley dropped their target price 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 reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and an average price target of $266.19.
Read Our Latest Analysis on IBM
About International Business Machines
(
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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