BerganKDV Wealth Management LLC lowered its position in shares of International Business Machines Corporation (NYSE:IBM) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,116 shares of the technology company’s stock after selling 160 shares during the period. BerganKDV Wealth Management LLC’s holdings in International Business Machines Corporation were worth $633,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of International Business Machines Corporation during the fourth quarter worth $117,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock worth $122,000 after buying an additional 6 shares during the period. Horan Securities Inc. raised its stake in shares of International Business Machines Corporation by 845.5% in the second quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after buying an additional 837 shares during the period. Proficio Capital Partners LLC raised its stake in shares of International Business Machines Corporation by 85.1% in the first quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock worth $146,000 after buying an additional 441 shares during the period. Finally, CKW Financial Group raised its position in shares of International Business Machines Corporation by 14.8% in the first quarter. CKW Financial Group now owns 938 shares of the technology company’s stock valued at $163,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 58.18% of the company’s stock.
International Business Machines Corporation (NYSE IBM) opened at 144.29 on Monday. The firm has a 50-day moving average price of $152.32 and a 200-day moving average price of $164.21. International Business Machines Corporation has a 52 week low of $143.64 and a 52 week high of $182.79. The stock has a market cap of $134.47 billion, a P/E ratio of 11.98 and a beta of 0.98.
International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.23. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. International Business Machines Corporation’s revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.95 EPS. On average, equities research analysts predict that International Business Machines Corporation will post $13.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio is presently 49.88%.
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Several research analysts have recently commented on IBM shares. Vetr lowered International Business Machines Corporation from a “sell” rating to a “strong sell” rating and set a $152.23 target price for the company. in a research report on Monday, April 17th. Goldman Sachs Group, Inc. (The) decreased their target price on International Business Machines Corporation from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. Zacks Investment Research lowered International Business Machines Corporation from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price target on shares of International Business Machines Corporation in a report on Wednesday, April 19th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $200.00 price target (down previously from $215.00) on shares of International Business Machines Corporation in a report on Saturday, April 22nd. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. International Business Machines Corporation has a consensus rating of “Hold” and a consensus price target of $157.50.
In other news, Director James W. Owens bought 1,718 shares of the stock in a transaction on Tuesday, May 16th. The shares were acquired at an average cost of $153.19 per share, for a total transaction of $263,180.42. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.
About International Business Machines Corporation
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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