Meridian Investment Counsel Inc. continued to hold its position in shares of International Business Machines Corporation (NYSE:IBM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,601 shares of the technology company’s stock at the end of the first quarter. Meridian Investment Counsel Inc.’s holdings in International Business Machines Corporation were worth $1,324,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of IBM. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth about $117,000. Jackson Grant Investment Advisers Inc. raised its position 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 last quarter. Grisanti Capital Management LLC raised its position in shares of International Business Machines Corporation by 2.0% in the first quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock worth $179,000 after buying an additional 20 shares during the last quarter. Pacific Center for Financial Services purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth about $195,000. Finally, Capital Management Associates NY purchased a new position in shares of International Business Machines Corporation during the first quarter worth about $200,000. 58.73% of the stock is owned by hedge funds and other institutional investors.
Shares of International Business Machines Corporation (NYSE:IBM) remained flat at $141.84 during midday trading on Friday. 3,004,210 shares of the stock traded hands. The firm has a market cap of $132.19 billion, a price-to-earnings ratio of 11.77 and a beta of 0.97. International Business Machines Corporation has a 12-month low of $141.19 and a 12-month high of $182.79. The company has a 50-day moving average price of $149.55 and a 200 day moving average price of $162.71.
International Business Machines Corporation (NYSE:IBM) last issued its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (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 quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 EPS. On average, equities research analysts predict that International Business Machines Corporation will post $13.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th will be issued a $1.50 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.23%. International Business Machines Corporation’s payout ratio is 49.88%.
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A number of equities analysts have issued reports on IBM shares. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 price target (down from $185.00) on shares of International Business Machines Corporation in a research note on Wednesday, April 19th. Stifel Nicolaus reissued a “buy” rating and set a $192.00 price objective on shares of International Business Machines Corporation in a research note on Wednesday, April 19th. Drexel Hamilton reissued a “buy” rating and set a $200.00 price objective (down from $215.00) on shares of International Business Machines Corporation in a research note on Saturday, April 22nd. Vetr raised International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $159.56 price objective for the company in a research note on Monday, July 10th. Finally, Standpoint Research raised International Business Machines Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Seven equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $157.40.
In other news, Director James W. Owens bought 1,718 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $153.19 per share, with a total value of $263,180.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.
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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