Creative Financial Designs Inc. ADV grew its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,742 shares of the technology company’s stock after purchasing an additional 86 shares during the period. Creative Financial Designs Inc. ADV’s holdings in International Business Machines were worth $228,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of International Business Machines by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,701,925 shares of the technology company’s stock valued at $2,626,331,000 after acquiring an additional 270,201 shares during the last quarter. Morgan Stanley lifted its stake in shares of International Business Machines by 22.8% in the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after acquiring an additional 3,084,458 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 15,974,179 shares of the technology company’s stock valued at $2,246,583,000 after acquiring an additional 334,758 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of International Business Machines by 98,797.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock valued at $1,553,876,000 after acquiring an additional 11,017,849 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in International Business Machines by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,130,808 shares of the technology company’s stock valued at $966,020,000 after purchasing an additional 77,916 shares during the period. Institutional investors own 55.71% of the company’s stock.
International Business Machines Trading Up 1.2 %
Shares of IBM stock opened at $134.44 on Wednesday. The firm has a market capitalization of $122.08 billion, a PE ratio of 68.24, a PEG ratio of 3.48 and a beta of 0.85. The stock has a fifty day simple moving average of $130.26 and a two-hundred day simple moving average of $132.07. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.11 and a current ratio of 1.16. International Business Machines Co. has a 52-week low of $115.54 and a 52-week high of $153.21.
International Business Machines Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Saturday, June 10th. Stockholders of record on Wednesday, May 10th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Tuesday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.65. International Business Machines’s payout ratio is currently 337.06%.
Analysts Set New Price Targets
IBM has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price target on International Business Machines from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, April 20th. Evercore ISI reduced their target price on International Business Machines from $150.00 to $140.00 and set an “inline” rating on the stock in a report on Thursday, April 20th. JPMorgan Chase & Co. began coverage on International Business Machines in a research note on Friday, July 7th. They issued a “neutral” rating and a $145.00 price target on the stock. Credit Suisse Group cut their price target on International Business Machines from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Thursday, April 13th. Finally, BMO Capital Markets cut their price target on International Business Machines from $155.00 to $145.00 and set a “market perform” rating on the stock in a research note on Thursday, April 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $139.73.
International Business Machines Company Profile
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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