Northern Trust Corp lowered its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,565,726 shares of the technology company’s stock after selling 588,858 shares during the quarter. Northern Trust Corp owned about 1.05% of International Business Machines worth $1,279,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Sterneck Capital Management LLC increased its position in International Business Machines by 0.4% during the 2nd quarter. Sterneck Capital Management LLC now owns 17,976 shares of the technology company’s stock valued at $2,405,000 after buying an additional 76 shares in the last quarter. Exeter Financial LLC raised its position in shares of International Business Machines by 0.4% in the 2nd quarter. Exeter Financial LLC now owns 17,618 shares of the technology company’s stock valued at $2,369,000 after purchasing an additional 76 shares during the last quarter. ERn Financial LLC boosted its stake in International Business Machines by 4.2% in the 4th quarter. ERn Financial LLC now owns 1,886 shares of the technology company’s stock worth $266,000 after purchasing an additional 76 shares in the last quarter. Oder Investment Management LLC grew its position in International Business Machines by 1.7% during the 2nd quarter. Oder Investment Management LLC now owns 4,803 shares of the technology company’s stock worth $643,000 after purchasing an additional 81 shares during the last quarter. Finally, Tranquility Partners LLC raised its holdings in shares of International Business Machines by 5.0% in the first quarter. Tranquility Partners LLC now owns 1,730 shares of the technology company’s stock worth $227,000 after buying an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 56.16% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Morgan Stanley cut their price target on International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. Royal Bank of Canada decreased their price objective on International Business Machines from $188.00 to $179.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Wedbush reiterated a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a research report on Monday, November 13th. Finally, BMO Capital Markets raised their target price on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $149.09.
International Business Machines Trading Up 0.0 %
Shares of NYSE IBM traded up $0.04 during trading on Tuesday, reaching $154.39. The stock had a trading volume of 251,176 shares, compared to its average volume of 4,471,125. The business’s 50-day moving average price is $144.45 and its 200-day moving average price is $139.19. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $154.68. The company has a market cap of $140.98 billion, a P/E ratio of 20.41, a PEG ratio of 4.16 and a beta of 0.76. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.86 and a current ratio of 0.91.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.08. The business had revenue of $14.75 billion for the quarter, compared to analysts’ expectations of $14.73 billion. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 earnings per share. On average, equities research analysts predict that International Business Machines Co. will post 9.45 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Investors of record on Friday, November 10th will be issued a $1.66 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $6.64 annualized dividend and a yield of 4.30%. International Business Machines’s dividend payout ratio (DPR) is 88.06%.
International Business Machines Company Profile
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.
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