ARGI Investment Services LLC increased its holdings in International Business Machines Co. (NYSE:IBM) by 196.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,967 shares of the technology company’s stock after acquiring an additional 25,143 shares during the period. ARGI Investment Services LLC’s holdings in International Business Machines were worth $5,275,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of International Business Machines by 1.1% during the 3rd quarter. BlackRock Inc. now owns 64,528,194 shares of the technology company’s stock worth $8,964,901,000 after purchasing an additional 722,962 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of International Business Machines by 4.8% in the second quarter. Geode Capital Management LLC now owns 14,364,580 shares of the technology company’s stock valued at $2,099,495,000 after acquiring an additional 664,246 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Business Machines by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,446,039 shares of the technology company’s stock valued at $1,971,055,000 after buying an additional 93,603 shares in the last quarter. Northern Trust Corp lifted its stake in International Business Machines by 0.9% during the 2nd quarter. Northern Trust Corp now owns 10,403,952 shares of the technology company’s stock valued at $1,525,115,000 after acquiring an additional 90,626 shares during the period. Finally, Nordea Investment Management AB increased its holdings in International Business Machines by 92.8% in the 3rd quarter. Nordea Investment Management AB now owns 6,834,777 shares of the technology company’s stock worth $956,458,000 after acquiring an additional 3,290,542 shares in the last quarter. Institutional investors own 55.31% of the company’s stock.
Shares of International Business Machines stock traded down $0.09 on Friday, hitting $134.67. 71,252 shares of the company were exchanged, compared to its average volume of 5,571,923. International Business Machines Co. has a 1-year low of $114.56 and a 1-year high of $152.84. The company has a 50-day moving average price of $125.06 and a 200 day moving average price of $134.05. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $120.71 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.13.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Wednesday, November 10th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Tuesday, November 9th. International Business Machines’s dividend payout ratio is presently 124.01%.
A number of research firms recently commented on IBM. UBS Group cut International Business Machines from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $136.00 to $124.00 in a research report on Tuesday. Evercore ISI initiated coverage on International Business Machines in a report on Thursday, December 2nd. They set a “positive” rating and a $125.00 price target for the company. The Goldman Sachs Group initiated coverage on International Business Machines in a report on Sunday, January 9th. They set a “neutral” rating and a $140.00 price target for the company. Credit Suisse Group initiated coverage on shares of International Business Machines in a research report on Friday, October 29th. They set an “outperform” rating and a $172.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective on shares of International Business Machines from $151.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $147.00.
About International Business Machines
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
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