Transcend Capital Advisors LLC lowered its position in International Business Machines Co. (NYSE:IBM – Free Report) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,645 shares of the technology company’s stock after selling 1,907 shares during the period. International Business Machines makes up about 0.7% of Transcend Capital Advisors LLC’s portfolio, making the stock its 25th largest position. Transcend Capital Advisors LLC’s holdings in International Business Machines were worth $7,847,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in International Business Machines by 97.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after buying an additional 127,093 shares in the last quarter. Roundview Capital LLC purchased a new stake in International Business Machines in the 1st quarter valued at $203,000. Sei Investments Co. increased its position in International Business Machines by 35.7% during the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after purchasing an additional 46,756 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of International Business Machines by 1.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock valued at $12,438,000 after buying an additional 1,821 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in shares of International Business Machines by 1.5% in the 1st quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock valued at $49,698,000 after purchasing an additional 5,506 shares during the last quarter. Hedge funds and other institutional investors own 56.16% of the company’s stock.
Wall Street Analyst Weigh In
IBM has been the topic of several research analyst reports. Bank of America boosted their price objective on International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Wedbush restated a “neutral” rating and set a $140.00 target price on shares of International Business Machines in a research note on Thursday, July 20th. Stifel Nicolaus raised their target price on shares of International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Finally, JPMorgan Chase & Co. started coverage on shares of International Business Machines in a research report on Friday, July 7th. They issued a “neutral” rating and a $145.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $142.91.
International Business Machines Stock Up 0.8 %
IBM stock traded up $1.15 during trading hours on Tuesday, hitting $146.24. The company’s stock had a trading volume of 2,291,078 shares, compared to its average volume of 4,530,044. The stock has a 50 day moving average price of $142.59 and a two-hundred day moving average price of $133.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a 12 month low of $115.54 and a 12 month high of $153.21. The company has a market capitalization of $133.23 billion, a PE ratio of 67.68, a price-to-earnings-growth ratio of 3.71 and a beta of 0.85.
International Business Machines (NYSE:IBM – Get Free Report) last released its earnings results on Wednesday, July 19th. The technology company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.00 by $0.18. International Business Machines had a net margin of 3.35% and a return on equity of 38.10%. The firm had revenue of $15.48 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the prior year, the company earned $2.31 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Co. will post 9.43 earnings per share for the current year.
International Business Machines Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were given a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 4.54%. The ex-dividend date was Wednesday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 307.41%.
International Business Machines Company Profile
International Business Machines Corporation, together with its subsidiaries, 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; 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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