Verus Financial Partners Inc. cut its stake in shares of International Business Machines Corp. (NYSE:IBM) by 47.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,480 shares of the technology company’s stock after selling 1,344 shares during the period. Verus Financial Partners Inc.’s holdings in International Business Machines were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. GFS Advisors LLC acquired a new stake in International Business Machines in the 2nd quarter valued at approximately $1,059,000. Parallel Advisors LLC grew its stake in shares of International Business Machines by 8.6% during the second quarter. Parallel Advisors LLC now owns 7,429 shares of the technology company’s stock worth $1,075,000 after purchasing an additional 590 shares in the last quarter. Strategic Financial Group LLC grew its stake in shares of International Business Machines by 7.9% during the second quarter. Strategic Financial Group LLC now owns 6,184 shares of the technology company’s stock worth $951,000 after purchasing an additional 455 shares in the last quarter. Usca Ria LLC grew its stake in shares of International Business Machines by 27.3% during the second quarter. Usca Ria LLC now owns 44,628 shares of the technology company’s stock worth $6,865,000 after purchasing an additional 9,572 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in International Business Machines by 6.5% in the second quarter. GHP Investment Advisors Inc. now owns 14,270 shares of the technology company’s stock valued at $2,195,000 after acquiring an additional 870 shares during the last quarter. Institutional investors and hedge funds own 56.99% of the company’s stock.
Shares of International Business Machines stock traded down $3.58 during trading on Monday, reaching $156.68. The company’s stock had a trading volume of 2,451,077 shares, compared to its average volume of 5,773,630. International Business Machines Corp. has a fifty-two week low of $139.13 and a fifty-two week high of $176.33. The firm has a market cap of $147,626.36, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25.
International Business Machines (NYSE:IBM) last posted its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, topping 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 company had revenue of $22.54 billion during the quarter, compared to the consensus estimate of $22.03 billion. During the same quarter last year, the firm earned $5.01 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. sell-side analysts expect that International Business Machines Corp. will post 13.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 9th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is 98.20%.
IBM has been the subject of a number of research reports. Vetr raised shares of International Business Machines from a “buy” rating to a “strong-buy” rating and set a $170.25 target price for the company in a report on Monday, November 27th. Tigress Financial reiterated a “buy” rating on shares of International Business Machines in a research report on Friday, December 1st. Zacks Investment Research lowered shares of International Business Machines from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Royal Bank of Canada raised shares of International Business Machines from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $180.00 in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “hold” rating and issued a $175.00 target price on shares of International Business Machines in a research note on Thursday, January 11th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. International Business Machines has a consensus rating of “Hold” and a consensus target price of $166.01.
In related news, insider Diane J. Gherson sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $156.00, for a total transaction of $780,000.00. Following the sale, the insider now owns 20,581 shares of the company’s stock, valued at approximately $3,210,636. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erich Clementi sold 13,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $154.66, for a total value of $2,010,580.00. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
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International Business Machines 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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