Heritage Investors Management Corp lowered its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 55,993 shares of the technology company’s stock after selling 553 shares during the quarter. Heritage Investors Management Corp’s holdings in International Business Machines were worth $9,158,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after purchasing an additional 365,388 shares during the period. Morgan Stanley raised its position in International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after acquiring an additional 1,919,490 shares in the last quarter. Northern Trust Corp lifted its holdings in International Business Machines by 4.2% in the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after acquiring an additional 404,948 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after purchasing an additional 61,028 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of International Business Machines by 15.9% during the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock valued at $890,322,000 after purchasing an additional 871,247 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.
International Business Machines Price Performance
Shares of NYSE:IBM traded down $3.60 during midday trading on Thursday, hitting $166.30. The company’s stock had a trading volume of 4,266,007 shares, compared to its average volume of 4,926,219. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The company has a market cap of $152.76 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The business’s 50 day simple moving average is $184.80 and its 200 day simple moving average is $171.86.
International Business Machines Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 4.02%. International Business Machines’s payout ratio is presently 75.65%.
Wall Street Analyst Weigh In
Several research firms recently commented on IBM. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. UBS Group lifted their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Bank of America raised their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Wedbush upped their target price on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $181.29.
Check Out Our Latest Research Report on IBM
International Business Machines Company Profile
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.
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