Madison Asset Management LLC purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,061 shares of the technology company's stock, valued at approximately $264,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Dimensions Group Ltd. increased its position in shares of International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after purchasing an additional 40 shares during the period. Pallas Capital Advisors LLC increased its position in shares of International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after purchasing an additional 42 shares during the period. DMC Group LLC increased its position in shares of International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after purchasing an additional 42 shares during the period. Titleist Asset Management LLC increased its position in shares of International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after purchasing an additional 43 shares during the period. Finally, Range Financial Group LLC increased its position in shares of International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after purchasing an additional 43 shares during the period. Institutional investors own 58.96% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on IBM. The Goldman Sachs Group lifted their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Stifel Nicolaus lifted their price target on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, JPMorgan Chase & Co. lifted their target price on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $268.75.
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International Business Machines Stock Up 1.4%
Shares of IBM stock traded up $3.67 on Monday, reaching $263.39. 1,962,413 shares of the company's stock traded hands, compared to its average volume of 4,618,159. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization of $244.80 billion, a P/E ratio of 42.70, a price-to-earnings-growth ratio of 4.01 and a beta of 0.69. The business's 50 day moving average price is $277.69 and its two-hundred day moving average price is $256.27.
International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. International Business Machines's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 earnings per share. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share 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 given a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.55%. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.
International Business Machines 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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