Carnick & Kubik Group LLC Grows Position in International Business Machines Corporation (IBM)

Carnick & Kubik Group LLC raised its position in International Business Machines Corporation (NYSE:IBM) by 2.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,126 shares of the technology company’s stock after buying an additional 79 shares during the period. Carnick & Kubik Group LLC’s holdings in International Business Machines Corporation were worth $544,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CKW Financial Group grew its stake in International Business Machines Corporation by 14.8% during the 1st quarter. CKW Financial Group now owns 938 shares of the technology company’s stock valued at $163,000 after acquiring an additional 121 shares in the last quarter. Grisanti Capital Management LLC grew its stake in International Business Machines Corporation by 2.0% during the 1st quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock valued at $179,000 after acquiring an additional 20 shares in the last quarter. Capital Management Associates NY purchased a new stake in International Business Machines Corporation during the 1st quarter valued at about $200,000. Chicago Equity Partners LLC purchased a new stake in International Business Machines Corporation during the 1st quarter valued at about $207,000. Finally, Retirement Planning Group purchased a new stake in International Business Machines Corporation during the 1st quarter valued at about $212,000. 57.94% of the stock is owned by institutional investors and hedge funds.

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International Business Machines Corporation (IBM) traded down 0.49% during mid-day trading on Friday, hitting $144.82. 7,397,233 shares of the stock traded hands. The stock has a 50-day moving average of $143.19 and a 200 day moving average of $156.45. International Business Machines Corporation has a 1-year low of $139.13 and a 1-year high of $182.79. The firm has a market cap of $134.96 billion, a price-to-earnings ratio of 12.02 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.74 by $0.23. The business had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 earnings per share. On average, equities analysts expect that International Business Machines Corporation will post $13.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, August 8th. International Business Machines Corporation’s payout ratio is currently 49.88%.

Several equities analysts have weighed in on IBM shares. Vetr lowered shares of International Business Machines Corporation from a “hold” rating to a “sell” rating and set a $150.26 target price on the stock. in a report on Monday, June 26th. BidaskClub upgraded shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Guggenheim restated a “hold” rating on shares of International Business Machines Corporation in a report on Friday, July 14th. Drexel Hamilton restated a “buy” rating and issued a $200.00 price objective on shares of International Business Machines Corporation in a report on Tuesday, July 18th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $154.00 price objective (down from $166.00) on shares of International Business Machines Corporation in a report on Wednesday, July 19th. Seven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $157.12.

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.

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

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