Sequoia Financial Advisors LLC decreased its holdings in International Business Machines Co. (NYSE:IBM – Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,446 shares of the technology company’s stock after selling 785 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in International Business Machines were worth $2,418,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in International Business Machines by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,701,925 shares of the technology company’s stock worth $2,626,331,000 after acquiring an additional 270,201 shares during the period. Morgan Stanley lifted its stake in International Business Machines by 22.8% in the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after acquiring an additional 3,084,458 shares during the period. Geode Capital Management LLC lifted its stake in International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 15,974,179 shares of the technology company’s stock worth $2,246,583,000 after acquiring an additional 334,758 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in International Business Machines by 98,797.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after acquiring an additional 11,017,849 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in International Business Machines by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 8,130,808 shares of the technology company’s stock worth $966,020,000 after acquiring an additional 77,916 shares during the period. Hedge funds and other institutional investors own 55.71% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on IBM. StockNews.com began coverage on International Business Machines in a report on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. began coverage on International Business Machines in a report on Friday. They issued a “neutral” rating and a $145.00 price objective for the company. Evercore ISI decreased their price objective on International Business Machines from $150.00 to $140.00 and set an “inline” rating for the company in a report on Thursday, April 20th. Morgan Stanley decreased their price objective on International Business Machines from $143.00 to $135.00 and set an “equal weight” rating for the company in a report on Thursday, April 20th. Finally, Stifel Nicolaus decreased their price objective on International Business Machines from $150.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $139.73.
International Business Machines Trading Down 0.1 %
International Business Machines (NYSE:IBM – Free Report) last released its quarterly earnings data on Wednesday, April 19th. The technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.27 by $0.09. International Business Machines had a return on equity of 39.86% and a net margin of 3.03%. The company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.33 billion. During the same period last year, the firm posted $1.40 earnings per share. International Business Machines’s revenue was up .4% compared to the same quarter last year. On average, sell-side analysts predict that International Business Machines Co. will post 9.32 EPS for the current year.
International Business Machines Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Saturday, June 10th. Shareholders of record on Wednesday, May 10th were given a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 5.03%. This is a boost from International Business Machines’s previous quarterly dividend of $1.65. The ex-dividend date was Tuesday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 337.06%.
About International Business Machines
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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