Everence Capital Management Inc. acquired a new position in International Business Machines Co. (NYSE:IBM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,862 shares of the technology company’s stock, valued at approximately $2,913,000.
Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in International Business Machines during the fourth quarter valued at approximately $1,116,008,000. BlackRock Inc. raised its position in International Business Machines by 2.2% during the fourth quarter. BlackRock Inc. now owns 62,271,273 shares of the technology company’s stock valued at $7,838,709,000 after acquiring an additional 1,324,858 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in International Business Machines by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,571,878 shares of the technology company’s stock valued at $1,582,548,000 after acquiring an additional 943,571 shares in the last quarter. RWWM Inc. raised its position in International Business Machines by 10,021.3% during the fourth quarter. RWWM Inc. now owns 644,827 shares of the technology company’s stock valued at $81,171,000 after acquiring an additional 638,456 shares in the last quarter. Finally, Morgan Stanley raised its position in International Business Machines by 6.4% during the fourth quarter. Morgan Stanley now owns 9,853,901 shares of the technology company’s stock valued at $1,240,410,000 after acquiring an additional 592,500 shares in the last quarter. Hedge funds and other institutional investors own 55.67% of the company’s stock.
Separately, Morgan Stanley lifted their price target on International Business Machines from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. International Business Machines has an average rating of “Hold” and a consensus target price of $139.77.
Shares of NYSE:IBM traded down $0.54 during trading on Thursday, reaching $134.39. The stock had a trading volume of 101,786 shares, compared to its average volume of 6,569,584. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.00 and a current ratio of 1.05. The business has a fifty day moving average price of $126.88 and a 200-day moving average price of $123.18. The stock has a market cap of $120.09 billion, a PE ratio of 15.26, a PEG ratio of 3.36 and a beta of 1.25. International Business Machines Co. has a 1-year low of $105.92 and a 1-year high of $137.07.
International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 20th. The technology company reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.28. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.59 billion. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. During the same period in the previous year, the company posted $4.71 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 8.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 10th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Tuesday, February 9th. International Business Machines’s dividend payout ratio (DPR) is currently 50.90%.
About International Business Machines
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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