Harbor Financial Services LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 16.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,366 shares of the technology company’s stock after selling 668 shares during the period. Harbor Financial Services LLC’s holdings in International Business Machines were worth $449,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Ledyard National Bank increased its position in shares of International Business Machines by 84.8% during the first quarter. Ledyard National Bank now owns 11,092 shares of the technology company’s stock valued at $1,478,000 after buying an additional 5,090 shares during the period. Bedel Financial Consulting Inc. increased its stake in shares of International Business Machines by 17.7% in the fourth quarter. Bedel Financial Consulting Inc. now owns 3,948 shares of the technology company’s stock worth $497,000 after purchasing an additional 593 shares in the last quarter. Principle Wealth Partners LLC increased its stake in shares of International Business Machines by 184.7% in the fourth quarter. Principle Wealth Partners LLC now owns 48,847 shares of the technology company’s stock worth $6,149,000 after purchasing an additional 31,689 shares in the last quarter. 1ST Source Bank grew its stake in International Business Machines by 1.7% during the fourth quarter. 1ST Source Bank now owns 38,754 shares of the technology company’s stock valued at $4,878,000 after acquiring an additional 650 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in International Business Machines by 11.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 37,416 shares of the technology company’s stock valued at $4,710,000 after acquiring an additional 3,800 shares in the last quarter. 54.96% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of International Business Machines from $150.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, April 26th. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $147.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, April 20th. Credit Suisse Group lifted their target price on shares of International Business Machines from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Monday, April 26th. Finally, BMO Capital Markets lifted their price objective on shares of International Business Machines from $138.00 to $150.00 and gave the company a “market perform” rating in a research note on Monday, April 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. International Business Machines has a consensus rating of “Hold” and an average target price of $146.00.
International Business Machines stock traded up $0.04 during midday trading on Friday, reaching $143.86. 9,224 shares of the company were exchanged, compared to its average volume of 5,086,011. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.88 and a current ratio of 0.93. The company has a market capitalization of $128.54 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.64 and a beta of 1.24. The firm’s 50-day simple moving average is $141.23 and its 200-day simple moving average is $128.69. International Business Machines Co. has a 1 year low of $105.92 and a 1 year high of $148.74.
International Business Machines (NYSE:IBM) last released its quarterly earnings data on Sunday, April 18th. The technology company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.14. The business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.35 billion. International Business Machines had a return on equity of 36.67% and a net margin of 7.28%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. On average, analysts forecast that International Business Machines Co. will post 10.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Monday, May 10th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.56%. This is an increase from International Business Machines’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 7th. International Business Machines’s payout ratio is 75.66%.
About International Business Machines
International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, supply chain, and asset management, weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.
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