Sound View Wealth Advisors Group LLC Purchases 1,190 Shares of International Business Machines Co. (NYSE:IBM)


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Sound View Wealth Advisors Group LLC raised its position in shares of International Business Machines Co. (NYSE:IBM) by 7.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 16,387 shares of the technology company’s stock after acquiring an additional 1,190 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in International Business Machines were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IBM. BlackRock Inc. boosted its holdings in shares of International Business Machines by 2.2% in the fourth quarter. BlackRock Inc. now owns 62,271,273 shares of the technology company’s stock worth $7,838,709,000 after acquiring an additional 1,324,858 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Business Machines by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,571,878 shares of the technology company’s stock worth $1,582,548,000 after acquiring an additional 943,571 shares during the period. Morgan Stanley boosted its holdings in shares of International Business Machines by 6.4% in the fourth quarter. Morgan Stanley now owns 9,853,901 shares of the technology company’s stock worth $1,240,410,000 after acquiring an additional 592,500 shares during the period. Norges Bank bought a new position in shares of International Business Machines in the fourth quarter worth $1,116,008,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of International Business Machines by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,066,979 shares of the technology company’s stock worth $511,909,000 after acquiring an additional 76,646 shares during the period. 55.67% of the stock is owned by institutional investors and hedge funds.

IBM has been the subject of a number of analyst reports. Credit Suisse Group raised their price target on International Business Machines from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, April 26th. Morgan Stanley increased their price objective on International Business Machines from $150.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, April 26th. Stifel Nicolaus increased their price objective on International Business Machines from $147.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, April 20th. Finally, BMO Capital Markets increased their price objective on International Business Machines from $138.00 to $150.00 and gave the stock a “market perform” rating in a research report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $146.00.

NYSE IBM traded up $0.43 during trading hours on Tuesday, reaching $145.18. 152,128 shares of the stock traded hands, compared to its average volume of 6,499,713. The stock has a 50 day simple moving average of $135.20 and a two-hundred day simple moving average of $125.17. International Business Machines Co. has a 1 year low of $105.92 and a 1 year high of $148.74. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market cap of $129.72 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Sunday, April 18th. The technology company reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.14. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. The business had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter last year, the business posted $1.84 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts forecast that International Business Machines Co. will post 8.73 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Monday, May 10th will be given a dividend of $1.64 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 7th. This represents a $6.56 dividend on an annualized basis and a yield of 4.52%. International Business Machines’s dividend payout ratio (DPR) is presently 50.90%.

International Business Machines Profile

International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, supply chain, and asset management, weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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