First Trust Advisors LP Buys 93,605 Shares of International Business Machines Corp. (IBM)
First Trust Advisors LP lifted its stake in International Business Machines Corp. (NYSE:IBM) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,337,090 shares of the technology company’s stock after buying an additional 93,605 shares during the period. International Business Machines comprises approximately 0.5% of First Trust Advisors LP’s holdings, making the stock its 20th largest holding. First Trust Advisors LP owned approximately 0.14% of International Business Machines worth $193,985,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of IBM. Herndon Capital Management LLC raised its holdings in shares of International Business Machines by 39.0% in the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after buying an additional 195 shares in the last quarter. Edge Wealth Management LLC increased its holdings in International Business Machines by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after purchasing an additional 40 shares in the last quarter. ETF Managers Group LLC acquired a new stake in International Business Machines during the 2nd quarter valued at $121,000. Peddock Capital Advisors LLC increased its holdings in International Business Machines by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after purchasing an additional 62 shares in the last quarter. Finally, Horan Securities Inc. increased its holdings in International Business Machines by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after purchasing an additional 837 shares in the last quarter. 57.13% of the stock is owned by institutional investors and hedge funds.
International Business Machines Corp. (NYSE:IBM) opened at $152.50 on Monday. International Business Machines Corp. has a 12-month low of $139.13 and a 12-month high of $182.79. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36. The stock has a market capitalization of $142,120.00, a price-to-earnings ratio of 12.73, a PEG ratio of 2.22 and a beta of 0.94.
International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.02. The firm had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.63 billion. International Business Machines had a return on equity of 68.68% and a net margin of 14.43%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. research analysts anticipate that International Business Machines Corp. will post 13.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, December 9th. Shareholders of record on Friday, November 10th were issued a dividend of $1.50 per share. The ex-dividend date was Thursday, November 9th. This represents a $6.00 annualized dividend and a yield of 3.93%. International Business Machines’s dividend payout ratio is presently 50.08%.
A number of research firms recently weighed in on IBM. Royal Bank of Canada reaffirmed a “hold” rating on shares of International Business Machines in a report on Friday, October 13th. Zacks Investment Research cut International Business Machines from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. BMO Capital Markets reaffirmed a “market perform” rating and set a $170.00 price target (up from $167.00) on shares of International Business Machines in a report on Wednesday, October 18th. JPMorgan Chase & Co. set a $157.00 price target on International Business Machines and gave the company a “neutral” rating in a report on Wednesday, October 18th. Finally, Citigroup raised their price target on International Business Machines from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, October 18th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $159.24.
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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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