Bahl & Gaynor Inc. reduced its holdings in International Business Machines Co. (NYSE:IBM – Free Report) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,284 shares of the technology company’s stock after selling 573 shares during the quarter. Bahl & Gaynor Inc.’s holdings in International Business Machines were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Naples Money Management LLC acquired a new position in International Business Machines in the fourth quarter valued at $28,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines in the third quarter worth about $31,000. Stone House Investment Management LLC boosted its position in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares during the period. Financial Gravity Asset Management Inc. boosted its position in shares of International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 91 shares during the period. Finally, Cordant Inc. boosted its position in shares of International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after buying an additional 226 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.
International Business Machines Stock Down 1.0 %
Shares of International Business Machines stock opened at $167.20 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.93 and a debt-to-equity ratio of 2.32. The business’s 50 day simple moving average is $187.60 and its 200-day simple moving average is $170.15. The stock has a market capitalization of $153.28 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 3.33 and a beta of 0.70. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18.
International Business Machines Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 75.20%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on IBM shares. UBS Group upped their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Wedbush increased their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America increased their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. reduced their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Royal Bank of Canada upped their price objective on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $184.08.
International Business Machines Company Profile
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.
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