International Business Machines Co. (NYSE:IBM) Shares Purchased by Atticus Wealth Management LLC
Atticus Wealth Management LLC raised its position in International Business Machines Co. (NYSE:IBM – Get Rating) by 194.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,181 shares of the technology company’s stock after acquiring an additional 1,441 shares during the quarter. Atticus Wealth Management LLC’s holdings in International Business Machines were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter valued at about $1,025,028,000. State Street Corp raised its position in shares of International Business Machines by 3.3% during the 4th quarter. State Street Corp now owns 53,048,681 shares of the technology company’s stock worth $7,090,487,000 after buying an additional 1,687,122 shares in the last quarter. Millennium Management LLC lifted its stake in shares of International Business Machines by 115.2% in the 4th quarter. Millennium Management LLC now owns 212,230 shares of the technology company’s stock worth $28,367,000 after acquiring an additional 1,610,410 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of International Business Machines by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,192,375 shares of the technology company’s stock worth $2,030,611,000 after acquiring an additional 951,417 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of International Business Machines by 1.4% in the fourth quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company’s stock valued at $8,748,364,000 after acquiring an additional 924,180 shares in the last quarter. 55.22% of the stock is currently owned by institutional investors.
NYSE IBM opened at $142.06 on Monday. The firm’s 50 day moving average price is $135.92 and its two-hundred day moving average price is $131.93. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.87 and a current ratio of 0.92. International Business Machines Co. has a twelve month low of $114.56 and a twelve month high of $147.50. The stock has a market cap of $127.77 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.59 and a beta of 1.00.
International Business Machines (NYSE:IBM – Get Rating) last posted its quarterly earnings results on Tuesday, April 19th. The technology company reported $1.40 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.84 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that International Business Machines Co. will post 9.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were given a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 4.65%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend was Monday, May 9th. International Business Machines’s dividend payout ratio is 108.20%.
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $13.95, for a total value of $311,106,427.20. Following the transaction, the insider now owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.
A number of brokerages have issued reports on IBM. BMO Capital Markets increased their price target on International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a research note on Wednesday, April 20th. Credit Suisse Group lifted their target price on International Business Machines from $165.00 to $166.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Morgan Stanley upped their price target on shares of International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Tigress Financial lifted their price objective on shares of International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Finally, Bank of America increased their target price on shares of International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $147.25.
International Business Machines 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.
Further Reading
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