Old North State Trust LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 40.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,022 shares of the technology company’s stock after selling 2,782 shares during the period. Old North State Trust LLC’s holdings in International Business Machines were worth $527,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. increased its position in shares of International Business Machines by 36.0% during the first quarter. Raleigh Capital Management Inc. now owns 5,642 shares of the technology company’s stock worth $740,000 after purchasing an additional 1,493 shares in the last quarter. Putnam Investments LLC raised its position in shares of International Business Machines by 3.2% in the first quarter. Putnam Investments LLC now owns 3,274 shares of the technology company’s stock valued at $429,000 after buying an additional 103 shares during the last quarter. Birmingham Capital Management Co. Inc. AL raised its position in shares of International Business Machines by 1.7% in the first quarter. Birmingham Capital Management Co. Inc. AL now owns 35,931 shares of the technology company’s stock valued at $4,710,000 after buying an additional 604 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of International Business Machines in the first quarter worth about $2,857,000. Finally, Abacus Wealth Partners LLC acquired a new position in International Business Machines during the first quarter worth about $633,000. 56.16% of the stock is currently owned by institutional investors and hedge funds.
International Business Machines Price Performance
Shares of IBM opened at $145.99 on Friday. The firm has a 50-day simple moving average of $142.31 and a two-hundred day simple moving average of $133.53. The stock has a market cap of $133.00 billion, a PE ratio of 67.59, a P/E/G ratio of 3.72 and a beta of 0.85. International Business Machines Co. has a 1-year low of $115.54 and a 1-year high of $153.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.06 and a quick ratio of 1.01.
International Business Machines Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 4.55%. The ex-dividend date was Wednesday, August 9th. International Business Machines’s payout ratio is 307.41%.
Wall Street Analysts Forecast Growth
IBM has been the topic of a number of research reports. Morgan Stanley reissued an “equal weight” rating and issued a $135.00 target price on shares of International Business Machines in a research note on Thursday, July 20th. Wedbush reissued a “neutral” rating and set a $140.00 price objective on shares of International Business Machines in a research note on Thursday, July 20th. BMO Capital Markets raised their target price on International Business Machines from $145.00 to $150.00 and gave the stock a “market perform” rating in a research note on Monday, July 17th. JPMorgan Chase & Co. initiated coverage on shares of International Business Machines in a research report on Friday, July 7th. They set a “neutral” rating and a $145.00 price target on the stock. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $142.91.
View Our Latest Stock 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 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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