TrimTabs Asset Management LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,335 shares of the technology company’s stock, valued at approximately $2,500,000. International Business Machines makes up about 1.3% of TrimTabs Asset Management LLC’s holdings, making the stock its 9th biggest position.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Enhancement Group LLC boosted its holdings in International Business Machines by 852.4% in the fourth quarter. Financial Enhancement Group LLC now owns 200 shares of the technology company’s stock valued at $25,000 after purchasing an additional 179 shares during the period. Oxler Private Wealth LLC purchased a new position in International Business Machines in the fourth quarter valued at $25,000. Diversified LLC purchased a new position in International Business Machines in the fourth quarter valued at $29,000. DB Wealth Management Group LLC purchased a new position in International Business Machines in the fourth quarter valued at $29,000. Finally, Sage Private Wealth Group LLC purchased a new position in International Business Machines in the fourth quarter valued at $31,000. 55.67% of the stock is owned by institutional investors and hedge funds.
NYSE IBM traded down $0.24 during trading on Thursday, reaching $134.69. 90,935 shares of the company’s stock were exchanged, compared to its average volume of 6,569,584. The stock has a market cap of $120.36 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. 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 company has a 50 day moving average price of $126.88 and a two-hundred day moving average price of $123.18. 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 announced 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 company had revenue of $20.37 billion during the quarter, compared to the consensus estimate 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 business earned $4.71 EPS. Research analysts forecast that International Business Machines Co. will post 8.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Tuesday, February 9th. International Business Machines’s dividend payout ratio (DPR) is currently 50.90%.
Separately, Morgan Stanley lifted their target price on International Business Machines from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $139.77.
International Business Machines Profile
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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