WealthTrust Axiom LLC Has $7.58 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

WealthTrust Axiom LLC boosted its holdings in International Business Machines Co. (NYSE:IBMGet Rating) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,298 shares of the technology company’s stock after purchasing an additional 257 shares during the quarter. International Business Machines comprises 2.4% of WealthTrust Axiom LLC’s holdings, making the stock its 8th largest holding. WealthTrust Axiom LLC’s holdings in International Business Machines were worth $7,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $1,025,028,000. State Street Corp increased its holdings in shares of International Business Machines by 3.3% during the fourth quarter. State Street Corp now owns 53,048,681 shares of the technology company’s stock valued at $7,090,487,000 after acquiring an additional 1,687,122 shares in the last quarter. Millennium Management LLC boosted its position in shares of International Business Machines by 115.2% during the fourth quarter. Millennium Management LLC now owns 212,230 shares of the technology company’s stock valued at $28,367,000 after buying an additional 1,610,410 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of International Business Machines by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,192,375 shares of the technology company’s stock valued at $2,030,611,000 after buying an additional 951,417 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of International Business Machines by 1.4% during the fourth quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company’s stock valued at $8,748,364,000 after buying an additional 924,180 shares during the last quarter. Institutional investors own 55.22% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several analyst reports. Bank of America lifted their target price on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. Credit Suisse Group cut their price objective on International Business Machines from $166.00 to $156.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 20th. BMO Capital Markets cut their price objective on International Business Machines from $152.00 to $148.00 in a research report on Tuesday, July 19th. Tigress Financial boosted their price objective on International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a research report on Thursday, April 21st. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.10.

Insider Activity

In other news, major shareholder Business Machine International sold 22,301,536 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the transaction, the insider now directly owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

International Business Machines Price Performance

NYSE IBM traded up $0.40 during trading on Friday, reaching $132.04. The company’s stock had a trading volume of 69,936 shares, compared to its average volume of 6,395,605. The stock has a market capitalization of $119.26 billion, a PE ratio of 21.37, a P/E/G ratio of 2.00 and a beta of 0.85. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.88 and a quick ratio of 0.82. The firm has a fifty day moving average of $136.74 and a 200 day moving average of $132.76. International Business Machines Co. has a one year low of $114.56 and a one year high of $146.00.

International Business Machines (NYSE:IBMGet Rating) last announced its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.29 by $0.02. The firm had revenue of $15.54 billion for the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.33 EPS. Analysts expect that International Business Machines Co. will post 9.47 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th will be given a dividend of $1.65 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $6.60 annualized dividend and a dividend yield of 5.00%. International Business Machines’s dividend payout ratio (DPR) is presently 107.14%.

International Business Machines Company Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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