International Business Machines Co. (NYSE:IBM) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,509 shares of the technology company’s stock after selling 5,442 shares during the quarter. Tower Bridge Advisors’ holdings in International Business Machines were worth $7,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of IBM. Financial Enhancement Group LLC increased its stake in International Business Machines by 852.4% during the 4th quarter. Financial Enhancement Group LLC now owns 200 shares of the technology company’s stock worth $25,000 after buying an additional 179 shares during the period. Oxler Private Wealth LLC purchased a new stake in International Business Machines during the 4th quarter worth $25,000. Better Money Decisions LLC purchased a new stake in International Business Machines during the 1st quarter worth $27,000. DB Wealth Management Group LLC purchased a new stake in International Business Machines during the 4th quarter worth $29,000. Finally, Sage Private Wealth Group LLC purchased a new stake in International Business Machines during the 4th quarter worth $31,000. Institutional investors and hedge funds own 54.96% of the company’s stock.

Several research firms have recently weighed in on IBM. Stifel Nicolaus boosted their target price 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. BMO Capital Markets boosted their target price on shares of International Business Machines from $138.00 to $150.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 20th. Credit Suisse Group boosted 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 report on Tuesday, April 20th. Finally, Morgan Stanley boosted 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 research report on Tuesday, April 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $146.00.

Shares of NYSE:IBM traded up $0.85 during trading on Friday, reaching $151.39. The company had a trading volume of 145,532 shares, compared to its average volume of 6,025,598. The business’s fifty day moving average is $142.01. The firm has a market cap of $135.27 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.69 and a beta of 1.23. International Business Machines Co. has a twelve month low of $105.92 and a twelve month high of $152.84. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.93 and a quick ratio of 0.88.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Sunday, April 18th. The technology company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.14. The company had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.35 billion. International Business Machines had a net margin of 7.28% and a return on equity of 36.67%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 EPS. On average, research analysts forecast that International Business Machines Co. will post 10.86 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Monday, May 10th were paid a $1.64 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.63. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, May 7th. International Business Machines’s dividend payout ratio is currently 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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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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