Cetera Advisor Networks LLC Has $3.85 Million Holdings in International Business Machines Corp. (IBM)
Cetera Advisor Networks LLC raised its stake in shares of International Business Machines Corp. (NYSE:IBM) by 8.3% in the third quarter, Holdings Channel reports. The firm owned 26,445 shares of the technology company’s stock after buying an additional 2,030 shares during the period. Cetera Advisor Networks LLC’s holdings in International Business Machines were worth $3,848,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Herndon Capital Management LLC boosted its stake 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 during the last quarter. ETF Managers Group LLC purchased a new position in shares of International Business Machines in the 2nd quarter worth approximately $121,000. Horan Capital Advisors LLC. purchased a new position in shares of International Business Machines in the 3rd quarter worth approximately $136,000. Peddock Capital Advisors LLC boosted its stake in shares of International Business Machines by 7.3% in the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after buying an additional 62 shares during the last quarter. Finally, CKW Financial Group boosted its stake in shares of International Business Machines by 0.3% in the 2nd quarter. CKW Financial Group now owns 941 shares of the technology company’s stock worth $146,000 after buying an additional 3 shares during the last quarter. Institutional investors and hedge funds own 57.08% of the company’s stock.
Shares of International Business Machines Corp. (NYSE IBM) opened at $150.75 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25. International Business Machines Corp. has a 1-year low of $139.13 and a 1-year high of $182.79. The stock has a market cap of $139,560.00, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 2.19 and a beta of 0.94.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 9th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a yield of 3.98%. International Business Machines’s payout ratio is 98.20%.
In other International Business Machines news, Director Frederick H. Waddell bought 610 shares of the stock in a transaction on Wednesday, January 31st. The shares were acquired at an average price of $163.38 per share, with a total value of $99,661.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.23% of the company’s stock.
A number of equities analysts have recently weighed in on IBM shares. UBS Group restated a “neutral” rating and issued a $160.00 target price (up previously from $152.00) on shares of International Business Machines in a research note on Wednesday, October 18th. Morgan Stanley downgraded International Business Machines from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $200.00 to $205.00 in a research note on Tuesday, January 23rd. Societe Generale set a $149.00 target price on International Business Machines and gave the stock a “sell” rating in a research note on Friday, January 19th. Vetr upgraded International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 target price on the stock in a research note on Wednesday, December 6th. Finally, BMO Capital Markets restated a “hold” rating and issued a $175.00 target price on shares of International Business Machines in a research note on Thursday, January 11th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $164.37.
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International Business Machines Company Profile
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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