Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,846 shares of the technology company’s stock after acquiring an additional 815 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in International Business Machines were worth $1,297,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. AGF Investments LLC increased its holdings in shares of International Business Machines by 369.1% in the 1st quarter. AGF Investments LLC now owns 258 shares of the technology company’s stock worth $34,000 after buying an additional 203 shares during the last quarter. Corsicana & Co. purchased a new stake in International Business Machines during the second quarter worth $55,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of International Business Machines in the first quarter valued at about $52,000. Sage Financial Management Group Inc. acquired a new stake in International Business Machines during the first quarter worth about $52,000. Finally, Better Money Decisions LLC boosted its stake in shares of International Business Machines by 99.5% in the second quarter. Better Money Decisions LLC now owns 405 shares of the technology company’s stock valued at $59,000 after purchasing an additional 202 shares during the period. Institutional investors own 55.24% of the company’s stock.
Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of International Business Machines from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 20th. Morgan Stanley lifted their target price on International Business Machines from $152.00 to $164.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 20th. Societe Generale upgraded International Business Machines from a “sell” rating to a “hold” rating and raised their price objective for the stock from $121.00 to $140.00 in a research report on Tuesday, July 20th. Finally, BMO Capital Markets raised their price objective on International Business Machines from $150.00 to $155.00 and gave the company a “market perform” rating in a research note on Friday, July 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued 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 $149.86.
International Business Machines (NYSE:IBM) last released its quarterly earnings results on Sunday, July 18th. The technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.04. The firm had revenue of $18.75 billion for the quarter, compared to analysts’ expectations of $18.30 billion. International Business Machines had a net margin of 7.17% and a return on equity of 36.79%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 earnings per share. As a group, equities research analysts forecast that International Business Machines Co. will post 10.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were issued a dividend of $1.64 per share. The ex-dividend date was Monday, August 9th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.82%. International Business Machines’s dividend payout ratio is currently 75.66%.
International Business Machines Company Profile
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
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