Advocate Group LLC lifted its stake in International Business Machines Co. (NYSE:IBM – Get Rating) by 11.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,843 shares of the technology company’s stock after purchasing an additional 6,900 shares during the period. International Business Machines accounts for approximately 2.1% of Advocate Group LLC’s holdings, making the stock its 7th largest position. Advocate Group LLC’s holdings in International Business Machines were worth $9,699,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lam Group Inc. bought a new position in International Business Machines in the 4th quarter worth $28,000. EdgeRock Capital LLC bought a new position in International Business Machines in the 3rd quarter worth $36,000. McClarren Financial Advisors Inc. bought a new position in International Business Machines in the 3rd quarter worth $38,000. Ten Capital Wealth Advisors LLC boosted its holdings in International Business Machines by 352.5% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 362 shares of the technology company’s stock worth $43,000 after buying an additional 282 shares during the period. Finally, Heritage Wealth Management LLC bought a new position in International Business Machines in the 2nd quarter worth $47,000. 55.90% of the stock is currently owned by hedge funds and other institutional investors.
International Business Machines Trading Up 0.4 %
International Business Machines stock traded up $0.47 during midday trading on Friday, reaching $123.84. The stock had a trading volume of 747,952 shares, compared to its average volume of 5,188,788. The firm has a market cap of $112.34 billion, a price-to-earnings ratio of 70.10, a price-to-earnings-growth ratio of 3.27 and a beta of 0.85. The company has a fifty day moving average of $133.07 and a 200 day moving average of $134.97. International Business Machines Co. has a 52-week low of $115.54 and a 52-week high of $153.21. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 2.10.
International Business Machines (NYSE:IBM – Get Rating) last issued its earnings results on Wednesday, January 25th. The technology company reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $3.61 by ($0.01). The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.38 billion. International Business Machines had a return on equity of 41.24% and a net margin of 2.71%. The business’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $3.35 earnings per share. On average, analysts anticipate that International Business Machines Co. will post 9.46 earnings per share for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 10th were paid a dividend of $1.65 per share. The ex-dividend date was Thursday, February 9th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 5.33%. International Business Machines’s dividend payout ratio is presently 375.00%.
Wall Street Analysts Forecast Growth
Several research firms have commented on IBM. Edward Jones downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Moffett Nathanson raised shares of International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 price objective for the company in a report on Tuesday, January 24th. Morgan Stanley dropped their price objective on shares of International Business Machines from $148.00 to $143.00 in a report on Thursday, January 26th. Evercore ISI upped their target price on shares of International Business Machines from $135.00 to $150.00 in a research report on Tuesday, January 17th. Finally, Citigroup upped their target price on shares of International Business Machines from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $142.73.
About International Business Machines
International Business Machines Corp. is an information technology company, which engages in the provision of integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other.
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