BKD Wealth Advisors LLC grew its holdings in International Business Machines Co. (NYSE:IBM – Get Rating) by 10.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,572 shares of the technology company's stock after acquiring an additional 2,846 shares during the quarter. BKD Wealth Advisors LLC's holdings in International Business Machines were worth $3,845,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in International Business Machines in the fourth quarter worth $1,025,028,000. State Street Corp lifted its position in International Business Machines by 3.3% in the fourth quarter. State Street Corp now owns 53,048,681 shares of the technology company's stock worth $7,090,487,000 after purchasing an additional 1,687,122 shares during the period. Millennium Management LLC lifted its position in International Business Machines by 115.2% in the fourth quarter. Millennium Management LLC now owns 212,230 shares of the technology company's stock worth $28,367,000 after purchasing an additional 1,610,410 shares during the period. Charles Schwab Investment Management Inc. lifted its position in International Business Machines by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,192,375 shares of the technology company's stock worth $2,030,611,000 after purchasing an additional 951,417 shares during the period. Finally, BlackRock Inc. lifted its position in International Business Machines by 1.4% in the fourth quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company's stock worth $8,748,364,000 after purchasing an additional 924,180 shares during the period. 55.22% of the stock is owned by institutional investors.
Get International Business Machines alerts:International Business Machines Price Performance
Shares of NYSE:IBM traded up $1.76 during midday trading on Wednesday, reaching $131.23. The company's stock had a trading volume of 107,304 shares, compared to its average volume of 5,454,510. International Business Machines Co. has a fifty-two week low of $114.56 and a fifty-two week high of $146.00. The company has a market capitalization of $118.52 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.00 and a beta of 0.85. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.88 and a quick ratio of 0.82. The business's fifty day simple moving average is $136.29 and its 200-day simple moving average is $132.78.
International Business Machines (NYSE:IBM – Get Rating) last announced its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.02. The firm had revenue of $15.54 billion during the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The company's revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $2.33 earnings per share. As a group, equities research analysts expect that International Business Machines Co. will post 9.47 EPS for the current fiscal year.International Business Machines Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Wednesday, August 10th will be given a $1.65 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $6.60 dividend on an annualized basis and a yield of 5.03%. International Business Machines's payout ratio is 107.14%.
Insider Buying and Selling
In related news, major shareholder Business Machine International sold 22,301,536 shares of International Business Machines stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $13.95, for a total value of $311,106,427.20. Following the completion of the sale, the insider now directly owns 22,301,536 shares in the company, valued at $311,106,427.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on IBM shares. Bank of America raised their target price on International Business Machines from $162.00 to $165.00 and gave the stock a "buy" rating in a research report on Wednesday, April 20th. Tigress Financial lifted their price objective on International Business Machines from $133.00 to $139.00 and gave the company a "neutral" rating in a report on Thursday, April 21st. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a report on Thursday, July 21st. Credit Suisse Group cut their price objective on International Business Machines from $166.00 to $156.00 and set an "outperform" rating for the company in a report on Wednesday, July 20th. Finally, BMO Capital Markets cut their price objective on International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.10.
International Business Machines Profile
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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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