Candriam Luxembourg S.C.A. trimmed its stake in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 20.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,841 shares of the technology company’s stock after selling 24,556 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in International Business Machines were worth $12,543,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new position in International Business Machines in the 3rd quarter valued at approximately $246,000. Center for Financial Planning Inc. increased its position in International Business Machines by 6.0% in the 3rd quarter. Center for Financial Planning Inc. now owns 2,546 shares of the technology company’s stock valued at $354,000 after acquiring an additional 144 shares during the period. AGF Investments Inc. increased its position in International Business Machines by 28.8% in the 3rd quarter. AGF Investments Inc. now owns 7,460 shares of the technology company’s stock valued at $1,036,000 after acquiring an additional 1,666 shares during the period. Eagle Asset Management Inc. increased its position in International Business Machines by 21.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 74,292 shares of the technology company’s stock valued at $10,321,000 after acquiring an additional 13,160 shares during the period. Finally, BOKF NA acquired a new stake in shares of International Business Machines during the third quarter worth $10,912,000. Institutional investors and hedge funds own 55.22% of the company’s stock.
IBM has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of International Business Machines in a research report on Thursday, March 31st. They set a “buy” rating for the company. UBS Group cut their target price on shares of International Business Machines from $124.00 to $118.00 in a research note on Tuesday, January 25th. Bank of America increased their target price on shares of International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, April 20th. Tigress Financial increased their target price on shares of International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Finally, Morgan Stanley increased their target price on shares of International Business Machines from $150.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $146.69.
International Business Machines (NYSE:IBM – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The technology company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. International Business Machines had a net margin of 8.21% and a return on equity of 42.14%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $13.84 billion. During the same quarter last year, the company posted $1.77 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th will be paid a $1.65 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, May 9th. This represents a $6.60 annualized dividend and a dividend yield of 4.77%. International Business Machines’s dividend payout ratio (DPR) is presently 108.20%.
International Business Machines Company Profile (Get Rating)
International Business Machines Corporation 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, such as Red Hat, an enterprise open-source 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.
- Get a free copy of the StockNews.com research report on International Business Machines (IBM)
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