Sterling Financial Planning Inc. reduced its position in International Business Machines Co. (NYSE:IBM) by 4.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,677 shares of the technology company’s stock after selling 115 shares during the quarter. Sterling Financial Planning Inc.’s holdings in International Business Machines were worth $357,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Financial Enhancement Group LLC boosted its position in shares of International Business Machines by 852.4% in the fourth quarter. Financial Enhancement Group LLC now owns 200 shares of the technology company’s stock valued at $25,000 after acquiring an additional 179 shares during the period. Oxler Private Wealth LLC bought a new stake in International Business Machines during the fourth quarter valued at approximately $25,000. Diversified LLC bought a new stake in International Business Machines during the fourth quarter valued at approximately $29,000. DB Wealth Management Group LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $29,000. Finally, Sage Private Wealth Group LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $31,000. Institutional investors own 55.67% of the company’s stock.
International Business Machines stock traded up $0.21 during midday trading on Tuesday, hitting $144.96. The stock had a trading volume of 98,633 shares, compared to its average volume of 6,499,713. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 2.58. International Business Machines Co. has a 52-week low of $105.92 and a 52-week high of $148.74. The firm’s fifty day moving average is $135.20 and its two-hundred day moving average is $125.17. The company has a market capitalization of $129.53 billion, a PE ratio of 16.39, a P/E/G ratio of 3.36 and a beta of 1.25.
International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Sunday, April 18th. The technology company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.14. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. The business had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the firm posted $1.84 EPS. The company’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Co. will post 8.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Monday, May 10th will be given a dividend of $1.64 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.63. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, May 7th. International Business Machines’s dividend payout ratio is currently 50.90%.
Several brokerages recently commented on IBM. Credit Suisse Group lifted their target price on shares of International Business Machines from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Monday, April 26th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $138.00 to $150.00 and gave the company a “market perform” rating in a research report on Monday, April 26th. Morgan Stanley boosted their target price on shares of International Business Machines from $150.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, April 26th. Finally, Stifel Nicolaus upped their price target on shares of International Business Machines from $147.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, April 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $146.00.
International Business Machines Company Profile
International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, supply chain, and asset management, weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.
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