Cape Cod Five Cents Savings Bank trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 15.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,897 shares of the technology company’s stock after selling 712 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in International Business Machines were worth $521,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of International Business Machines by 15.0% in the fourth quarter. First Trust Advisors LP now owns 3,624,730 shares of the technology company’s stock worth $484,481,000 after buying an additional 472,362 shares during the period. Dimensional Fund Advisors LP increased its position in shares of International Business Machines by 10.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,610,624 shares of the technology company’s stock valued at $640,574,000 after acquiring an additional 439,743 shares during the period. Geode Capital Management LLC raised its stake in shares of International Business Machines by 2.7% during the third quarter. Geode Capital Management LLC now owns 14,756,888 shares of the technology company’s stock valued at $2,044,535,000 after acquiring an additional 392,308 shares during the last quarter. Balyasny Asset Management LLC bought a new position in shares of International Business Machines during the third quarter valued at about $50,747,000. Finally, ProShare Advisors LLC grew its stake in shares of International Business Machines by 22.0% in the fourth quarter. ProShare Advisors LLC now owns 1,687,492 shares of the technology company’s stock worth $225,549,000 after purchasing an additional 304,123 shares during the last quarter. 55.22% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. UBS Group dropped their price objective on International Business Machines from $124.00 to $118.00 in a report on Tuesday, January 25th. BMO Capital Markets raised their price target on International Business Machines from $148.00 to $152.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 20th. Bank of America lifted their price target on shares of International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Credit Suisse Group upped their price objective on shares of International Business Machines from $165.00 to $166.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Finally, Tigress Financial lifted their target price on shares of International Business Machines from $133.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $146.69.
International Business Machines (NYSE:IBM – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The technology company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $13.84 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Tuesday, May 10th will be paid a $1.65 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, May 9th. This represents a $6.60 dividend on an annualized basis and a yield of 4.96%. International Business Machines’s payout ratio is presently 108.20%.
International Business Machines Company Profile (Get Rating)
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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