State Treasurer State of Michigan cut its stake in shares of International Business Machines Corporation (NYSE:IBM) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,887 shares of the technology company’s stock after selling 1,100 shares during the period. State Treasurer State of Michigan’s holdings in International Business Machines Corporation were worth $50,481,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of IBM. Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of International Business Machines Corporation during the fourth quarter valued at 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 valued at $122,000 after buying an additional 6 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in shares of International Business Machines Corporation during the fourth quarter worth $195,000. Retirement Planning Group purchased a new stake in shares of International Business Machines Corporation during the first quarter worth $212,000. Finally, Sheets Smith Wealth Management raised its stake in shares of International Business Machines Corporation by 1.7% in the first quarter. Sheets Smith Wealth Management now owns 1,269 shares of the technology company’s stock worth $221,000 after buying an additional 21 shares in the last quarter. Institutional investors own 58.57% of the company’s stock.
Shares of International Business Machines Corporation (NYSE IBM) opened at 140.70 on Friday. The firm’s 50 day moving average price is $147.71 and its 200 day moving average price is $161.48. The stock has a market cap of $131.12 billion, a P/E ratio of 11.68 and a beta of 0.97. International Business Machines Corporation has a 52-week low of $140.58 and a 52-week high of $182.79.
International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.23. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 earnings per share. On average, analysts expect that International Business Machines Corporation will post $13.76 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 dividend of $1.50 per share. The ex-dividend date is Tuesday, August 8th. This represents a $6.00 dividend on an annualized basis and a yield of 4.26%. International Business Machines Corporation’s payout ratio is presently 49.88%.
A number of equities research analysts recently weighed in on IBM shares. Jefferies Group LLC set a $135.00 price objective on International Business Machines Corporation and gave the stock a “sell” rating in a research report on Friday, May 19th. Drexel Hamilton restated a “buy” rating and set a $200.00 price objective (down previously from $215.00) on shares of International Business Machines Corporation in a research report on Saturday, April 22nd. Stifel Nicolaus restated a “buy” rating and set a $182.00 price objective on shares of International Business Machines Corporation in a research report on Friday, July 21st. TheStreet lowered International Business Machines Corporation to a “hold” rating in a research report on Friday, April 21st. Finally, Vetr upgraded International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price target on the stock in a research report on Monday, July 3rd. Seven analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the stock. International Business Machines Corporation currently has an average rating of “Hold” and a consensus price target of $157.40.
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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