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Kwmg LLC Raises Holdings in International Business Machines

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Kwmg LLC lifted its stake in International Business Machines Co. (NYSE:IBM – Get Rating) by 12.3% during the first quarter, Holdings Channel reports. The institutional investor owned 30,047 shares of the technology company’s stock after acquiring an additional 3,296 shares during the quarter. Kwmg LLC’s holdings in International Business Machines were worth $3,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Resonant Capital Advisors LLC purchased a new stake in shares of International Business Machines in the first quarter worth about $200,000. Mitchell Sinkler & Starr PA purchased a new stake in shares of International Business Machines in the first quarter worth about $340,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of International Business Machines by 10.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 173,800 shares of the technology company’s stock worth $22,597,000 after buying an additional 16,667 shares during the last quarter. MJP Associates Inc. ADV boosted its stake in shares of International Business Machines by 25.5% in the first quarter. MJP Associates Inc. ADV now owns 4,873 shares of the technology company’s stock worth $635,000 after buying an additional 991 shares during the last quarter. Finally, Beech Hill Advisors Inc. boosted its stake in shares of International Business Machines by 8.5% in the first quarter. Beech Hill Advisors Inc. now owns 10,331 shares of the technology company’s stock worth $1,343,000 after buying an additional 806 shares during the last quarter. Hedge funds and other institutional investors own 55.22% of the company’s stock.

International Business Machines stock opened at $138.08 on Thursday. International Business Machines Co. has a 1-year low of $114.56 and a 1-year high of $146.00. 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 stock has a market cap of $124.19 billion, a PE ratio of 22.64, a P/E/G ratio of 1.58 and a beta of 0.93. The stock’s fifty day moving average is $136.77 and its two-hundred day moving average is $132.72.

International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings results on Tuesday, April 19th. The technology company reported $1.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $13.84 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were paid 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 of this dividend was Monday, May 9th. This represents a $6.60 annualized dividend and a dividend yield of 4.78%. International Business Machines’s payout ratio is 108.20%.

In related 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 stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the completion of the transaction, the insider now directly owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

IBM has been the subject of a number of analyst reports. Tigress Financial upped their price target on International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Credit Suisse Group upped their price target on International Business Machines from $165.00 to $166.00 and gave the stock an “outperform” 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 stock an “overweight” rating in a report on Wednesday, April 20th. BMO Capital Markets upped their price target on International Business Machines from $148.00 to $152.00 and gave the stock a “market perform” rating in a report on Wednesday, April 20th. Finally, StockNews.com assumed coverage on International Business Machines in a report on Thursday, March 31st. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $147.25.

About International Business Machines (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.

Further Reading

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM – Get Rating).

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



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