Victory Capital Management Inc. reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,316 shares of the technology company's stock after selling 41,368 shares during the quarter. Victory Capital Management Inc.'s holdings in International Business Machines were worth $75,423,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines during the first quarter worth $27,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in International Business Machines in the first quarter worth about $45,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $43,000. Park Place Capital Corp lifted its position in International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after acquiring an additional 58 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the fourth quarter valued at approximately $43,000. Institutional investors own 58.96% of the company's stock.
Analyst Ratings Changes
IBM has been the subject of several research analyst reports. Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group upped their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of "Moderate Buy" and an average price target of $266.19.
View Our Latest Stock Analysis on IBM
International Business Machines Stock Up 1.4%
Shares of NYSE:IBM traded up $4.04 during mid-day trading on Friday, hitting $286.04. 4,465,031 shares of the company traded hands, compared to its average volume of 4,230,427. The firm has a market cap of $265.85 billion, a P/E ratio of 49.23, a PEG ratio of 5.92 and a beta of 0.69. The firm's 50 day simple moving average is $275.65 and its 200 day simple moving average is $253.56. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16.
International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the prior year, the company earned $1.68 earnings per share. The firm's revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.
International Business Machines Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 115.66%.
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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