Matthew Goff Investment Advisor LLC lowered its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 3.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,827 shares of the technology company’s stock after selling 413 shares during the quarter. Matthew Goff Investment Advisor LLC’s holdings in International Business Machines were worth $1,583,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Live Oak Investment Partners bought a new stake in International Business Machines in the fourth quarter valued at approximately $30,000. GW&K Investment Management LLC purchased a new position in shares of International Business Machines during the first quarter valued at approximately $33,000. First Command Advisory Services Inc. purchased a new position in shares of International Business Machines during the first quarter valued at approximately $37,000. Pacific Center for Financial Services purchased a new position in shares of International Business Machines during the first quarter valued at approximately $41,000. Finally, Kepos Capital LP purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $42,000. Institutional investors own 56.16% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on International Business Machines in a research note on Friday, July 7th. They set a “neutral” rating and a $145.00 target price on the stock. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Stifel Nicolaus boosted their target price on International Business Machines from $140.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Bank of America upped their price target on International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $142.91.
International Business Machines Trading Up 0.0 %
NYSE IBM opened at $145.16 on Tuesday. International Business Machines Co. has a 12 month low of $115.54 and a 12 month high of $153.21. The stock has a market cap of $132.24 billion, a P/E ratio of 67.18, a P/E/G ratio of 3.71 and a beta of 0.85. The stock’s fifty day moving average price is $142.59 and its 200-day moving average price is $133.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.28.
International Business Machines (NYSE:IBM – Get Free Report) last released its earnings results on Wednesday, July 19th. The technology company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The firm had revenue of $15.48 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts forecast that International Business Machines Co. will post 9.43 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th were issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Wednesday, August 9th. International Business Machines’s payout ratio is currently 307.41%.
International Business Machines 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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