Wellington Shields Capital Management LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM) by 49.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,580 shares of the technology company’s stock after buying an additional 9,400 shares during the period. International Business Machines Corporation accounts for about 0.8% of Wellington Shields Capital Management LLC’s holdings, making the stock its 19th largest position. Wellington Shields Capital Management LLC’s holdings in International Business Machines Corporation were worth $4,977,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale raised its stake in International Business Machines Corporation by 70.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 646,799 shares of the technology company’s stock worth $112,830,000 after buying an additional 267,588 shares during the last quarter. British Airways Pensions Investment Management Ltd acquired a new position in International Business Machines Corporation during the first quarter valued at $23,149,000. Parnassus Investments CA increased its position in International Business Machines Corporation by 12.4% in the first quarter. Parnassus Investments CA now owns 1,135,000 shares of the technology company’s stock valued at $197,649,000 after buying an additional 125,000 shares during the period. ING Groep NV increased its position in International Business Machines Corporation by 4,198.4% in the first quarter. ING Groep NV now owns 114,853 shares of the technology company’s stock valued at $20,001,000 after buying an additional 112,181 shares during the period. Finally, Bank of Montreal Can increased its position in International Business Machines Corporation by 11.0% in the first quarter. Bank of Montreal Can now owns 955,721 shares of the technology company’s stock valued at $166,430,000 after buying an additional 94,939 shares during the period. 58.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of International Business Machines Corporation (NYSE IBM) traded up 0.56% during midday trading on Friday, reaching $143.74. The company’s stock had a trading volume of 2,872,893 shares. The stock’s 50-day moving average is $145.84 and its 200 day moving average is $160.04. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79. The stock has a market capitalization of $133.96 billion, a P/E ratio of 11.93 and a beta of 0.97.
International Business Machines Corporation (NYSE:IBM) last announced 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 the consensus estimate of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 earnings per share. On average, analysts expect that International Business Machines Corporation will post $13.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.88%.
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Several research firms recently weighed in on IBM. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday. Vetr upgraded International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $150.93 target price on the stock in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $192.00 target price on shares of International Business Machines Corporation in a research report on Wednesday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $160.00 target price on shares of International Business Machines Corporation in a research report on Friday, August 18th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $150.00 target price on shares of International Business Machines Corporation in a research report on Wednesday, August 9th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $157.41.
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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