Matthew Goff Investment Advisor LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 3.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,827 shares of the technology company’s stock after selling 413 shares during the quarter. Matthew Goff Investment Advisor LLC’s holdings in International Business Machines were worth $1,583,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of IBM. Cantor Fitzgerald Investment Advisor L.P grew its position in shares of International Business Machines by 97.6% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after buying an additional 127,093 shares during the period. Roundview Capital LLC acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $203,000. Sei Investments Co. grew its position in shares of International Business Machines by 35.7% during the 1st quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after buying an additional 46,756 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of International Business Machines by 1.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after buying an additional 1,821 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of International Business Machines by 1.5% during the 1st quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock worth $49,698,000 after buying an additional 5,506 shares during the period. Institutional investors and hedge funds own 56.16% of the company’s stock.
Wall Street Analysts Forecast Growth
IBM has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of International Business Machines in a research report on Friday, July 7th. They set a “neutral” rating and a $145.00 price objective for the company. Stifel Nicolaus increased their target price on International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $135.00 target price on shares of International Business Machines in a report on Thursday, July 20th. Wedbush reiterated a “neutral” rating and issued a $140.00 target price on shares of International Business Machines in a report on Thursday, July 20th. Finally, BMO Capital Markets increased their target price on International Business Machines from $145.00 to $150.00 and gave the stock a “market perform” rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $142.91.
International Business Machines Price Performance
Shares of NYSE:IBM opened at $145.16 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.28. The stock’s fifty day simple moving average is $142.59 and its two-hundred day simple moving average is $133.71. International Business Machines Co. has a 1-year low of $115.54 and a 1-year high of $153.21. The stock has a market cap of $132.24 billion, a PE ratio of 67.18, a price-to-earnings-growth ratio of 3.71 and a beta of 0.85.
International Business Machines (NYSE:IBM – Get Free Report) last released its earnings results on Wednesday, July 19th. The technology company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. The company had revenue of $15.48 billion for the quarter, compared to analysts’ expectations of $15.58 billion. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 EPS. As a group, analysts forecast that International Business Machines Co. will post 9.43 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th were paid a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Wednesday, August 9th. International Business Machines’s payout ratio is 307.41%.
International Business Machines Profile
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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