International Business Machines Co. (NYSE:IBM) Shares Purchased by Whitener Capital Management Inc.

Whitener Capital Management Inc. raised its holdings in International Business Machines Co. (NYSE:IBM) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,183 shares of the technology company’s stock after purchasing an additional 250 shares during the period. Whitener Capital Management Inc.’s holdings in International Business Machines were worth $961,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IBM. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Business Machines by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,701,925 shares of the technology company’s stock worth $2,626,331,000 after purchasing an additional 270,201 shares during the last quarter. Morgan Stanley boosted its stake in International Business Machines by 22.8% in the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after buying an additional 3,084,458 shares during the last quarter. Geode Capital Management LLC grew its holdings in International Business Machines by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 16,209,322 shares of the technology company’s stock valued at $2,120,034,000 after buying an additional 235,143 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of International Business Machines by 98,797.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after acquiring an additional 11,017,849 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of International Business Machines by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 8,130,808 shares of the technology company’s stock worth $966,020,000 after acquiring an additional 77,916 shares during the last quarter. 56.16% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.8 %

Shares of IBM stock traded up $1.12 during trading hours on Tuesday, hitting $146.21. 1,980,724 shares of the company were exchanged, compared to its average volume of 4,528,435. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a market capitalization of $133.20 billion, a price-to-earnings ratio of 67.18, a P/E/G ratio of 3.71 and a beta of 0.85. International Business Machines Co. has a one year low of $115.54 and a one year high of $153.21. The business’s 50-day simple moving average is $142.59 and its two-hundred day simple moving average is $133.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 19th. The technology company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The company had revenue of $15.48 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter last year, the business posted $2.31 EPS. International Business Machines’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts predict that International Business Machines Co. will post 9.43 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a dividend of $1.66 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.54%. International Business Machines’s dividend payout ratio (DPR) is 307.41%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBM. Bank of America increased their price target on shares of International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. JPMorgan Chase & Co. began coverage on International Business Machines in a research report on Friday, July 7th. They set a “neutral” rating and a $145.00 price target for the company. Stifel Nicolaus increased their price objective on shares of International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $135.00 price target on shares of International Business Machines in a report on Thursday, July 20th. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $142.91.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, 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; 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.