Resources Management Corp CT ADV boosted its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 1,759.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,749 shares of the technology company’s stock after purchasing an additional 23,418 shares during the quarter. International Business Machines makes up about 0.9% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 29th largest holding. Resources Management Corp CT ADV’s holdings in International Business Machines were worth $7,331,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new position in International Business Machines in the fourth quarter worth $25,000. Family CFO Inc acquired a new position in shares of International Business Machines during the fourth quarter valued at $25,000. Joseph Group Capital Management acquired a new position in shares of International Business Machines during the fourth quarter valued at $28,000. Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at $28,000. Finally, SWAN Capital LLC acquired a new position in shares of International Business Machines during the third quarter valued at $28,000. Institutional investors and hedge funds own 58.96% of the company’s stock.
International Business Machines Stock Down 0.2%
International Business Machines stock opened at $271.77 on Monday. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $332.46. The stock has a market cap of $255.43 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.82 and a beta of 0.66. The company’s 50-day moving average price is $250.02 and its two-hundred day moving average price is $270.10. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.
International Business Machines Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. International Business Machines’s payout ratio is currently 59.77%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on IBM shares. Jefferies Financial Group reduced their price target on shares of International Business Machines from $370.00 to $320.00 and set a “buy” rating for the company in a report on Monday, April 20th. Citigroup boosted their price target on shares of International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Roth Mkm reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. HSBC raised shares of International Business Machines from a “reduce” rating to a “hold” rating and boosted their price target for the company from $218.00 to $231.00 in a report on Tuesday, April 28th. Finally, Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.17.
Check Out Our Latest Analysis on International Business Machines
International Business Machines Company 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.
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