Frisch Financial Group Inc. Has $1.14 Million Position in International Business Machines Corporation $IBM

Frisch Financial Group Inc. lessened its holdings in International Business Machines Corporation (NYSE:IBM) by 51.6% in the third quarter, Holdings Channel reports. The institutional investor owned 4,033 shares of the technology company’s stock after selling 4,303 shares during the period. Frisch Financial Group Inc.’s holdings in International Business Machines were worth $1,138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of International Business Machines by 0.8% in the third quarter. Vanguard Group Inc. now owns 95,776,307 shares of the technology company’s stock worth $27,024,243,000 after purchasing an additional 724,832 shares during the last quarter. State Street Corp grew its position in shares of International Business Machines by 0.3% in the 2nd quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock valued at $16,076,406,000 after buying an additional 147,721 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of International Business Machines by 1.9% in the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after buying an additional 400,131 shares during the period. Legal & General Group Plc raised its position in shares of International Business Machines by 3.4% during the second quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock worth $2,100,751,000 after acquiring an additional 234,318 shares during the last quarter. Finally, Norges Bank acquired a new stake in International Business Machines during the 2nd quarter valued at approximately $2,011,122,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IBM shares. BMO Capital Markets reiterated a “market perform” rating and set a $350.00 price objective on shares of International Business Machines in a research report on Thursday, January 29th. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Dbs Bank raised International Business Machines from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 19th. Bank of America raised their target price on International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Finally, Morgan Stanley set a $304.00 price target on International Business Machines in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Moderate Buy” and a consensus price target of $330.07.

Insider Transactions at International Business Machines

In related news, Director David N. Farr acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was purchased at an average cost of $304.00 per share, with a total value of $304,000.00. Following the acquisition, the director owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. This trade represents a 12.11% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $255.65 on Friday. The business’s fifty day moving average is $295.12 and its 200 day moving average is $283.96. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. The stock has a market cap of $238.97 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.61 and a beta of 0.69.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.33 by $0.19. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. During the same quarter in the prior year, the company posted $3.92 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a $1.68 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 annualized dividend and a yield of 2.6%. International Business Machines’s dividend payout ratio (DPR) is presently 60.27%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.