International Business Machines Co. (NYSE:IBM) Shares Bought by Cooper Financial Group

Cooper Financial Group increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.3% in the first quarter, Holdings Channel reports. The firm owned 13,207 shares of the technology company’s stock after acquiring an additional 301 shares during the period. Cooper Financial Group’s holdings in International Business Machines were worth $2,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in International Business Machines during the fourth quarter worth about $1,019,009,000. International Assets Investment Management LLC increased its holdings in shares of International Business Machines by 15,439.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after acquiring an additional 2,636,386 shares in the last quarter. Morgan Stanley lifted its position in shares of International Business Machines by 13.4% in the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after buying an additional 1,919,490 shares during the last quarter. Capital Wealth Planning LLC bought a new position in shares of International Business Machines during the fourth quarter worth approximately $172,887,000. Finally, Junto Capital Management LP acquired a new position in shares of International Business Machines in the 4th quarter valued at approximately $62,020,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.8 %

IBM stock traded down $1.46 during mid-day trading on Friday, hitting $172.46. 10,182,025 shares of the company were exchanged, compared to its average volume of 2,992,791. The business has a fifty day simple moving average of $170.91 and a 200-day simple moving average of $176.11. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 12-month low of $129.18 and a 12-month high of $199.18. The firm has a market capitalization of $158.42 billion, a P/E ratio of 19.53, a PEG ratio of 4.29 and a beta of 0.72.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the business posted $1.36 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.87%. International Business Machines’s dividend payout ratio is 75.65%.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. UBS Group raised their price objective on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Jefferies Financial Group cut their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Sanford C. Bernstein upped their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research note on Thursday, May 16th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.