Rhumbline Advisers increased its stake in shares of IBM (NYSE:IBM) by 1.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,552,611 shares of the technology company’s stock after acquiring an additional 17,235 shares during the period. Rhumbline Advisers owned approximately 0.17% of IBM worth $238,202,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in IBM. ETF Managers Group LLC acquired a new position in shares of IBM in the 2nd quarter valued at approximately $121,000. Price Wealth Management Inc. acquired a new position in shares of IBM in the 4th quarter valued at approximately $122,000. Cerebellum GP LLC acquired a new position in shares of IBM in the 4th quarter valued at approximately $126,000. Horan Capital Advisors LLC. acquired a new position in shares of IBM in the 3rd quarter valued at approximately $136,000. Finally, Risk Paradigm Group LLC acquired a new position in shares of IBM in the 2nd quarter valued at approximately $165,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IBM opened at $150.57 on Monday. The firm has a market cap of $138,700.28, a P/E ratio of 10.91, a P/E/G ratio of 2.20 and a beta of 0.90. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25. IBM has a 12 month low of $139.13 and a 12 month high of $172.93.
IBM (NYSE:IBM) last issued its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, topping the Zacks’ consensus estimate of $5.17 by $0.01. The firm had revenue of $22.54 billion during the quarter, compared to the consensus estimate of $22.03 billion. IBM had a return on equity of 69.48% and a net margin of 7.27%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $5.01 EPS. equities analysts forecast that IBM will post 13.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 9th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a yield of 3.98%. IBM’s payout ratio is currently 43.48%.
In other IBM news, Director Frederick H. Waddell purchased 610 shares of IBM stock in a transaction on Wednesday, January 31st. The stock was bought at an average price of $163.38 per share, for a total transaction of $99,661.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Diane J. Gherson sold 5,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $156.00, for a total value of $780,000.00. Following the transaction, the insider now owns 20,581 shares of the company’s stock, valued at approximately $3,210,636. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
IBM has been the topic of a number of recent analyst reports. Vetr lowered IBM from a “strong-buy” rating to a “buy” rating and set a $173.45 target price on the stock. in a research report on Tuesday, December 12th. Zacks Investment Research lowered IBM from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Royal Bank of Canada raised IBM from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $160.00 to $180.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and issued a $175.00 target price on shares of IBM in a research report on Thursday, January 11th. They noted that the move was a valuation call. Finally, Societe Generale set a $152.00 target price on IBM and gave the company a “sell” rating in a research report on Friday, January 12th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $166.01.
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International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.
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