Investment Management of Virginia LLC lowered its stake in International Business Machines Corporation (NYSE:IBM) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 28,120 shares of the technology company’s stock after selling 1,000 shares during the period. International Business Machines Corporation comprises 1.2% of Investment Management of Virginia LLC’s holdings, making the stock its 27th largest position. Investment Management of Virginia LLC’s holdings in International Business Machines Corporation were worth $4,897,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Thomas J. Herzfeld Advisors Inc. bought a new position in International Business Machines Corporation during the fourth quarter worth $117,000. Jackson Grant Investment Advisers Inc. boosted its position in 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 last quarter. Pacific Center for Financial Services bought a new position in International Business Machines Corporation during the fourth quarter worth $195,000. Chicago Equity Partners LLC bought a new position in International Business Machines Corporation during the first quarter worth $207,000. Finally, Retirement Planning Group bought a new position in International Business Machines Corporation during the first quarter worth $212,000. Institutional investors and hedge funds own 58.73% of the company’s stock.
Shares of International Business Machines Corporation (NYSE IBM) traded down 0.24% during midday trading on Wednesday, hitting $141.77. 2,924,924 shares of the stock were exchanged. The company has a market capitalization of $132.12 billion, a P/E ratio of 11.77 and a beta of 0.97. The firm has a 50-day moving average of $150.98 and a 200-day moving average of $163.44. International Business Machines Corporation has a 1-year low of $141.19 and a 1-year high of $182.79.
International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.23. The firm 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%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 earnings per share. On average, equities analysts expect that International Business Machines Corporation will post $13.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio is presently 49.88%.
A number of research firms have weighed in on IBM. Wedbush reiterated a “neutral” rating and issued a $155.00 target price on shares of International Business Machines Corporation in a research note on Wednesday. Vetr cut shares of International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $150.68 target price on the stock. in a research note on Monday. BidaskClub cut shares of International Business Machines Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. UBS AG reiterated a “neutral” rating and issued a $159.00 target price (down from $167.00) on shares of International Business Machines Corporation in a research note on Saturday, July 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $160.00 target price (down from $165.00) on shares of International Business Machines Corporation in a research note on Saturday, July 22nd. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $157.40.
In other International Business Machines Corporation news, Director James W. Owens purchased 1,718 shares of International Business Machines Corporation stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average price of $153.19 per share, for a total transaction of $263,180.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.
International Business Machines Corporation Company Profile
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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