King Luther Capital Management Corp trimmed its holdings in shares of International Business Machines Corp. (NYSE:IBM) by 12.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,882 shares of the technology company’s stock after selling 24,381 shares during the quarter. King Luther Capital Management Corp’s holdings in International Business Machines were worth $25,082,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of IBM. Vanguard Group Inc. increased its position in International Business Machines by 3.7% during the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock worth $9,572,538,000 after buying an additional 2,241,818 shares during the last quarter. Nordea Investment Management AB increased its position in International Business Machines by 151.2% during the second quarter. Nordea Investment Management AB now owns 3,250,047 shares of the technology company’s stock worth $499,955,000 after buying an additional 1,956,033 shares during the last quarter. Janus Henderson Group PLC increased its position in International Business Machines by 1,155.3% during the second quarter. Janus Henderson Group PLC now owns 1,358,103 shares of the technology company’s stock worth $208,923,000 after buying an additional 1,249,916 shares during the last quarter. BlackRock Inc. increased its position in International Business Machines by 2.4% during the second quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock worth $8,143,204,000 after buying an additional 1,241,441 shares during the last quarter. Finally, Stifel Financial Corp increased its position in International Business Machines by 9,678.2% during the third quarter. Stifel Financial Corp now owns 815,897 shares of the technology company’s stock worth $118,347,000 after buying an additional 807,553 shares during the last quarter. 57.08% of the stock is currently owned by hedge funds and other institutional investors.
IBM has been the topic of several analyst reports. Royal Bank of Canada reissued a “hold” rating and set a $160.00 target price on shares of International Business Machines in a research report on Wednesday, November 15th. Barclays raised International Business Machines from an “underweight” rating to an “overweight” rating and raised their price target for the company from $133.00 to $192.00 in a research report on Wednesday, January 17th. Societe Generale set a $149.00 price target on International Business Machines and gave the company a “sell” rating in a research report on Friday, January 19th. Goldman Sachs Group set a $170.00 price target on International Business Machines and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Finally, Vetr raised International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 price target on the stock in a research report on Wednesday, December 6th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $164.37.
International Business Machines Corp. (NYSE:IBM) traded up $3.62 during mid-day trading on Wednesday, reaching $154.37. The company had a trading volume of 3,030,000 shares, compared to its average volume of 6,830,000. International Business Machines Corp. has a fifty-two week low of $139.13 and a fifty-two week high of $182.79. The firm has a market capitalization of $142,910.00, a P/E ratio of 25.27, a PEG ratio of 2.21 and a beta of 0.94. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25.
International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $0.01. The firm had revenue of $22.54 billion during the quarter, compared to analysts’ expectations of $22.03 billion. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.01 earnings per share. research analysts predict 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. Shareholders of record on Friday, February 9th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, February 8th. International Business Machines’s dividend payout ratio is 98.20%.
In other International Business Machines news, Director Frederick H. Waddell purchased 610 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was purchased at an average price of $163.38 per share, for a total transaction of $99,661.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.
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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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