SignalPoint Asset Management LLC trimmed its stake in International Business Machines Co. (NYSE:IBM – Get Rating) by 3.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,776 shares of the technology company’s stock after selling 137 shares during the quarter. SignalPoint Asset Management LLC’s holdings in International Business Machines were worth $491,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of IBM. Assenagon Asset Management S.A. grew its holdings in shares of International Business Machines by 6.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 23,472 shares of the technology company’s stock worth $3,137,000 after acquiring an additional 1,337 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of International Business Machines by 1.1% in the 4th quarter. Pinnacle Associates Ltd. now owns 93,394 shares of the technology company’s stock worth $12,483,000 after acquiring an additional 1,055 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of International Business Machines by 13.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 53,269 shares of the technology company’s stock valued at $7,120,000 after buying an additional 6,435 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of International Business Machines by 15.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 746,446 shares of the technology company’s stock valued at $99,580,000 after buying an additional 99,785 shares in the last quarter. Finally, Davy Global Fund Management Ltd grew its holdings in shares of International Business Machines by 38.5% during the fourth quarter. Davy Global Fund Management Ltd now owns 17,400 shares of the technology company’s stock valued at $2,326,000 after buying an additional 4,838 shares in the last quarter. 55.22% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, major shareholder Business Machine International sold 22,301,536 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the sale, the insider now directly owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by corporate insiders.
International Business Machines Stock Performance
International Business Machines (NYSE:IBM – Get Rating) last released its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.02. The company had revenue of $15.54 billion for the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. On average, research analysts predict that International Business Machines Co. will post 9.47 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Wednesday, August 10th will be given a dividend of $1.65 per share. The ex-dividend date is Tuesday, August 9th. This represents a $6.60 dividend on an annualized basis and a yield of 4.98%. International Business Machines’s dividend payout ratio (DPR) is presently 107.14%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on IBM. Morgan Stanley lowered their price target on International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. BMO Capital Markets lowered their price target on International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. Tigress Financial boosted their target price on International Business Machines from $133.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Finally, Bank of America boosted their target price on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and an average price target of $146.10.
About International Business Machines
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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