CI Investments Inc. acquired a new stake in shares of International Business Machines Corp. (NYSE:IBM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 151,300 shares of the technology company’s stock, valued at approximately $23,212,000.
Other institutional investors also recently modified their holdings of the company. ETF Managers Group LLC bought a new position in International Business Machines in the second quarter worth approximately $121,000. Price Wealth Management Inc. bought a new position in International Business Machines in the fourth quarter worth approximately $122,000. Cerebellum GP LLC bought a new position in International Business Machines in the fourth quarter worth approximately $126,000. Horan Capital Advisors LLC. bought a new position in International Business Machines in the third quarter worth approximately $136,000. Finally, MPS Loria Financial Planners LLC bought a new position in International Business Machines in the second quarter worth approximately $156,000. Institutional investors own 56.99% of the company’s stock.
In other International Business Machines news, insider Diane J. Gherson sold 5,000 shares of International Business Machines stock in a transaction on Monday, February 26th. The shares were sold at an average price of $156.00, for a total value of $780,000.00. Following the completion of the transaction, the insider now directly owns 20,581 shares of the company’s stock, valued at approximately $3,210,636. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick H. Waddell acquired 610 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was acquired at an average cost of $163.38 per share, with a total value of $99,661.80. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.
Several research firms have weighed in on IBM. Pivotal Research set a $180.00 price target on shares of International Business Machines and gave the stock a “buy” rating in a research report on Thursday, January 18th. Bank of America reissued a “buy” rating and issued a $200.00 price objective on shares of International Business Machines in a research note on Friday, January 19th. Goldman Sachs set a $170.00 price objective on shares of International Business Machines and gave the stock a “neutral” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. set a $167.00 price objective on shares of International Business Machines and gave the stock a “neutral” rating in a research note on Friday, January 19th. Finally, Morgan Stanley increased their price objective on shares of International Business Machines to $198.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. International Business Machines has an average rating of “Hold” and a consensus target price of $166.01.
International Business Machines stock opened at $156.69 on Thursday. The firm has a market cap of $144,945.77, a price-to-earnings ratio of 25.64, a P/E/G ratio of 2.30 and a beta of 0.94. International Business Machines Corp. has a 52 week low of $139.13 and a 52 week high of $176.33. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.29 and a current ratio of 1.33.
International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $0.01. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The business had revenue of $22.54 billion during the quarter, compared to analysts’ expectations of $22.03 billion. During the same period last year, the company posted $5.01 EPS. The business’s revenue was up 3.6% on a year-over-year basis. equities analysts predict that International Business Machines Corp. will post 13.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 9th were paid a $1.50 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.83%. International Business Machines’s payout ratio is currently 98.20%.
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About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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