Fifth Third Bancorp increased its stake in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 13.4% in the first quarter, HoldingsChannel reports. The firm owned 180,240 shares of the technology company’s stock after buying an additional 21,298 shares during the quarter. Fifth Third Bancorp’s holdings in International Business Machines were worth $23,435,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Duff & Phelps Investment Management Co. boosted its position in International Business Machines by 0.8% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 9,330 shares of the technology company’s stock worth $1,247,000 after acquiring an additional 76 shares during the period. Rossmore Private Capital lifted its holdings in shares of International Business Machines by 1.2% during the fourth quarter. Rossmore Private Capital now owns 6,418 shares of the technology company’s stock valued at $858,000 after purchasing an additional 78 shares during the last quarter. Twin Capital Management Inc. lifted its holdings in shares of International Business Machines by 1.7% during the fourth quarter. Twin Capital Management Inc. now owns 4,909 shares of the technology company’s stock valued at $656,000 after purchasing an additional 80 shares during the last quarter. Keel Point LLC lifted its holdings in shares of International Business Machines by 2.4% during the fourth quarter. Keel Point LLC now owns 3,505 shares of the technology company’s stock valued at $468,000 after purchasing an additional 83 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of International Business Machines by 4.4% during the first quarter. Rosenberg Matthew Hamilton now owns 1,973 shares of the technology company’s stock valued at $257,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 55.22% of the company’s stock.
Shares of IBM stock opened at $141.19 on Friday. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.92 and a quick ratio of 0.87. International Business Machines Co. has a fifty-two week low of $114.56 and a fifty-two week high of $147.50. The stock’s 50-day moving average is $136.58 and its two-hundred day moving average is $132.32. The firm has a market cap of $126.99 billion, a P/E ratio of 23.15, a PEG ratio of 1.59 and a beta of 1.00.
International Business Machines (NYSE:IBM – Get Rating) last issued its earnings results on Tuesday, April 19th. The technology company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.84 billion. During the same period in the prior year, the firm posted $1.77 EPS. The business’s 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 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a dividend of $1.65 per share. 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 dividend on an annualized basis and a dividend yield of 4.67%. International Business Machines’s dividend payout ratio is currently 108.20%.
Several equities research analysts have recently commented on IBM shares. StockNews.com started coverage on International Business Machines in a report on Thursday, March 31st. They set a “buy” rating for the company. BMO Capital Markets upped their target price 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. Morgan Stanley upped their price target on International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Credit Suisse Group upped their price target on International Business Machines from $165.00 to $166.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. Finally, Bank of America upped their price target on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $147.25.
In other news, major shareholder Business Machine International sold 22,301,536 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the transaction, the insider now owns 22,301,536 shares of the company’s stock, valued at approximately $311,106,427.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.
International Business Machines 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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