Consolidated Planning Corp Has $6.45 Million Position in International Business Machines Corporation (NYSE:IBM)
by Danessa Lincoln · The Markets DailyConsolidated Planning Corp boosted its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,951 shares of the technology company’s stock after buying an additional 1,038 shares during the period. Consolidated Planning Corp’s holdings in International Business Machines were worth $6,453,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the business. Capital World Investors increased its stake in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank bought a new stake in International Business Machines in the fourth quarter valued at approximately $1,236,176,000. GAMMA Investing LLC increased its stake in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. bought a new stake in International Business Machines in the fourth quarter valued at approximately $592,746,000. Finally, Northern Trust Corp increased its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have commented on IBM. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Wedbush increased their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank Of Canada increased their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $253.75.
Read Our Latest Analysis on International Business Machines
International Business Machines Stock Performance
Shares of IBM stock opened at $280.67 on Monday. The stock has a market cap of $260.85 billion, a P/E ratio of 48.31, a P/E/G ratio of 5.90 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The company has a fifty day moving average price of $257.71 and a two-hundred day moving average price of $245.71. International Business Machines Corporation has a one year low of $170.41 and a one year high of $286.91.
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.68 earnings per share. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.
International Business Machines Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.
International Business Machines Company Profile
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.
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