RBA Wealth Management LLC Raises Position in International Business Machines Co. (NYSE:IBM)

RBA Wealth Management LLC grew its holdings in shares of International Business Machines Co. (NYSE:IBMGet Rating) by 7.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,687 shares of the technology company’s stock after purchasing an additional 1,835 shares during the quarter. RBA Wealth Management LLC’s holdings in International Business Machines were worth $3,470,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IBM. Norges Bank purchased a new position in shares of International Business Machines during the 4th quarter worth $1,025,028,000. State Street Corp raised its position in shares of International Business Machines by 3.3% in the 4th quarter. State Street Corp now owns 53,048,681 shares of the technology company’s stock worth $7,090,487,000 after buying an additional 1,687,122 shares during the period. Millennium Management LLC raised its position in shares of International Business Machines by 115.2% in the 4th quarter. Millennium Management LLC now owns 212,230 shares of the technology company’s stock worth $28,367,000 after buying an additional 1,610,410 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of International Business Machines by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,192,375 shares of the technology company’s stock worth $2,030,611,000 after buying an additional 951,417 shares during the period. Finally, BlackRock Inc. raised its position in shares of International Business Machines by 1.4% in the 4th quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company’s stock worth $8,748,364,000 after buying an additional 924,180 shares during the period. 55.22% of the stock is currently owned by institutional investors.

In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of International Business Machines stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $13.95, for a total value of $311,106,427.20. Following the transaction, the insider now owns 22,301,536 shares in the company, valued at $311,106,427.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

Shares of NYSE IBM traded down $0.25 during mid-day trading on Thursday, reaching $136.83. 53,747 shares of the company traded hands, compared to its average volume of 4,437,871. International Business Machines Co. has a fifty-two week low of $114.56 and a fifty-two week high of $147.50. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.92 and a quick ratio of 0.87. The firm has a market cap of $123.07 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.55 and a beta of 1.00. The stock has a fifty day simple moving average of $135.37 and a 200-day simple moving average of $131.54.

International Business Machines (NYSE:IBMGet Rating) last posted its quarterly earnings results on Tuesday, April 19th. The technology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.84 billion. International Business Machines had a net margin of 8.21% and a return on equity of 42.14%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share. As a group, analysts predict that International Business Machines Co. will post 9.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th were given a $1.65 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.64. The ex-dividend date was Monday, May 9th. This represents a $6.60 annualized dividend and a yield of 4.82%. International Business Machines’s payout ratio is 108.20%.

Several brokerages recently issued reports on IBM. BMO Capital Markets increased their price target on International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a report on Wednesday, April 20th. Bank of America increased their price target on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Morgan Stanley increased their price target on International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Credit Suisse Group raised their target price on International Business Machines from $165.00 to $166.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Finally, StockNews.com started coverage on International Business Machines in a research note on Thursday, March 31st. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $147.25.

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.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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