Virginia Retirement Systems ET AL grew its holdings in shares of International Business Machines Corp. (NYSE:IBM) by 80.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,500 shares of the technology company’s stock after purchasing an additional 92,500 shares during the period. Virginia Retirement Systems ET AL’s holdings in International Business Machines were worth $30,104,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Herndon Capital Management LLC lifted its stake in International Business Machines by 39.0% during the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after buying an additional 195 shares in the last quarter. Edge Wealth Management LLC lifted its stake in International Business Machines by 5.6% during the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after buying an additional 40 shares in the last quarter. ETF Managers Group LLC purchased a new stake in International Business Machines during the second quarter valued at about $121,000. Horan Capital Advisors LLC. purchased a new stake in International Business Machines during the third quarter valued at about $136,000. Finally, Peddock Capital Advisors LLC lifted its position in shares of International Business Machines by 7.3% in the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 57.08% of the company’s stock.
Shares of International Business Machines Corp. (IBM) opened at $151.40 on Tuesday. The firm has a market cap of $138,415.08, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 2.19 and a beta of 0.94. International Business Machines Corp. has a 52 week low of $139.13 and a 52 week high of $182.79. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.29 and a current ratio of 1.33.
International Business Machines (NYSE:IBM) last released its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.17 by $0.01. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The business had revenue of $22.54 billion during the quarter, compared to analysts’ expectations of $22.03 billion. During the same period in the previous year, the business posted $5.01 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. equities analysts forecast that International Business Machines Corp. will post 13.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 9th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.96%. International Business Machines’s dividend payout ratio is 98.20%.
A number of research firms have recently issued reports on IBM. Oppenheimer reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, October 18th. UBS Group reaffirmed a “neutral” rating and set a $160.00 price objective (up previously from $152.00) on shares of International Business Machines in a research report on Wednesday, October 18th. BMO Capital Markets reaffirmed a “hold” rating and set a $175.00 price objective on shares of International Business Machines in a research report on Thursday, January 11th. They noted that the move was a valuation call. Barclays raised their price objective on shares of International Business Machines from $132.00 to $133.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. Finally, Zacks Investment Research raised shares of International Business Machines from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $164.37.
In other International Business Machines news, Director Frederick H. Waddell purchased 610 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was acquired at an average cost of $163.38 per share, with a total value of $99,661.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.
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International Business Machines Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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