Cambridge Investment Research Advisors Inc. decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,927 shares of the technology company's stock after selling 2,878 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in International Business Machines were worth $90,248,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of International Business Machines during the 4th quarter worth about $2,446,429,000. Capital World Investors boosted its holdings in shares of International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after buying an additional 4,976,756 shares during the period. Price T Rowe Associates Inc. MD grew its stake in International Business Machines by 83.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company's stock valued at $1,663,847,000 after buying an additional 2,553,552 shares during the last quarter. Corient Private Wealth LLC grew its stake in International Business Machines by 359.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company's stock valued at $561,814,000 after buying an additional 1,484,026 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in International Business Machines by 50.5% in the 1st quarter. First Trust Advisors LP now owns 3,330,537 shares of the technology company's stock valued at $807,289,000 after acquiring an additional 1,117,210 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of International Business Machines from $291.00 to $250.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Argus decreased their target price on International Business Machines from $360.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Robert W. Baird began coverage on International Business Machines in a research note on Tuesday, July 21st. They set a "neutral" rating and a $230.00 target price on the stock. Piper Sandler raised International Business Machines to an "overweight" rating in a report on Tuesday, June 23rd. Finally, Needham & Company LLC assumed coverage on International Business Machines in a research note on Wednesday, June 3rd. They issued a "buy" rating for the company. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $265.40.
Read Our Latest Stock Report on International Business Machines
International Business Machines Stock Performance
NYSE IBM opened at $231.06 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $217.69 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.31 and a beta of 0.70. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The firm has a 50-day moving average price of $246.44 and a two-hundred day moving average price of $249.98.
International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the prior year, the business posted $2.80 EPS. The business's revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current year.
International Business Machines Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. International Business Machines's dividend payout ratio is currently 59.98%.
Key International Business Machines News
Here are the key news stories impacting International Business Machines this week:
International Business Machines Company Profile
(
Free Report)
International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.
IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.
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