Brendel Financial Advisors LLC purchased new shares in International Business Machines (NYSE: IBM – rated) in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission. The fund purchased 2,417 shares of the company, worth about $317,000.
Several other hedge funds and institutional investors have also recently changed positions within the company. Moneta Group Investment Advisors LLC increased his position in International Business Machines by 98,797.1% in the fourth quarter. Moneta Group Investment Advisors LLC said he purchased an additional 11,017,849 shares in the previous quarter and now owns 11,029,001 shares in technology companies valued at $1,553,876,000. Norges Bank acquired new positions in International Business Machines worth approximately $876,014,000 in the fourth quarter. Morgan Stanley increased its position in the International Business Machines segment by 22.8% in the fourth quarter. Morgan Stanley purchased an additional 3,084,458 shares last quarter and now owns 16,592,094 shares in the company worth $2,337,660,000. Edmp Inc. increased his position in International Business Machines by 14,357.1% in the fourth quarter. Edmp Inc. purchased an additional 2,384,859 shares last quarter and now owns 2,401,470 shares in the company, valued at $17,045,000. Finally, Vanguard Group Inc. increased its position in the International Business Machines segment by 2.2% in the third quarter. Vanguard Group Inc. purchased an additional 1,709,934 shares last quarter and now owns 79,079,065 shares of the company, valued at $9,395,384,000. Currently, 55.90% of the shares are held by institutional investors and hedge funds.
Wall Street analyst speaks out
IBM has been the subject of numerous research analyst reports. Credit Suisse Group lowered its price target on International Business Machines from $165.00 to $162.00 in a research report on Thursday, April 13, setting the company’s rating to “outperform.” In a research report on Thursday, April 20, Stifel Nikolaus lowered his price target on International Business Machines shares from $150.00 to $140.00 and set a Buy rating for the company. Evercore ISI lowered its price target on International Business Machines shares from $150.00 to $140.00 and set the company’s rating to ‘inline’ in its research report on Thursday, April 20. BMO Capital Markets lowered its price target on International Business Machines stock from $155.00 to $145.00 in a research report on Thursday, April 20, setting a “market performance” rating for the company. Finally, StockNews.com featured International Business Machines stock in its research report on Thursday, May 18th. They issued a “hold” rating to the company. One analyst assigned the stock a “sell” rating, six “hold” ratings and two “buy” ratings. The stock has a consensus rating of Hold and an average price target of $139.20, according to Marketbeat data.
International office equipment trade fell 0.7%
NYSE: IBM opened Friday at $137.48. The company’s 50-day moving average is $128.21 and its 200-day moving average is $133.64. The company has a debt to equity ratio of 2.48, a quick ratio of 1.11 and a current ratio of 1.16. International Business Machines hit a 52-week low of $115.54 and a 52-week high of $153.21. The company has a market capitalization of $124.84 billion, a P/E of 69.79, a P/E of 3.63 and a beta of 0.85.
International Business Machines (NYSE:IBM – Get Rating) last released quarterly earnings data on Wednesday, April 19th. The company reported EPS of $1.36 for the quarter, beating analyst consensus expectations of $1.27 by $0.09. International Business Machines had a net profit margin of 3.03% and a return on equity of 39.86%. The company had revenue of $14.25 billion in the quarter, compared with analysts’ expectations of $14.33 billion. The company’s EPS in the year-ago quarter was $1.40. The company’s quarterly revenue increased by 0.4% year-on-year. Equity analysts expect International Business Machines to post earnings per share of $9.31 this year.
International Business Machine Increases Dividend
The company also recently announced its quarterly dividend, which was paid on Saturday, June 10. A dividend of $1.66 was paid to shareholders of record on Wednesday, May 10. This is a positive change from International Business Machines’ previous quarterly dividend of $1.65. This equates to a dividend of $6.64 for him on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Tuesday, May 9. International Business Machines’ dividend payout ratio is currently 337.06%.
international business machine profile
International Business Machines Corp. is an information technology company engaged in providing integrated solutions leveraging information technology and business process knowledge. It operates through software, consulting, infrastructure, finance, and other segments.
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