Great West Life Assurance Co. Can lessened its holdings in International Business Machines Co. (NYSE:IBM) by 20.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 824,107 shares of the technology company’s stock after selling 212,359 shares during the quarter. Great West Life Assurance Co. Can’s holdings in International Business Machines were worth $120,774,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. AGF Investments LLC lifted its holdings in shares of International Business Machines by 369.1% in the 1st quarter. AGF Investments LLC now owns 258 shares of the technology company’s stock worth $34,000 after buying an additional 203 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of International Business Machines during the 2nd quarter worth $47,000. Corsicana & Co. purchased a new stake in shares of International Business Machines during the 2nd quarter worth $55,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of International Business Machines during the 1st quarter worth $52,000. Finally, Sage Financial Management Group Inc. purchased a new stake in shares of International Business Machines during the 1st quarter worth $52,000. Institutional investors and hedge funds own 55.24% of the company’s stock.
A number of brokerages recently weighed in on IBM. BMO Capital Markets upped their price objective on International Business Machines from $150.00 to $155.00 and gave the stock a “market perform” rating in a research note on Friday, July 16th. Morgan Stanley increased their price target on International Business Machines from $152.00 to $164.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 20th. Citigroup increased their price target on International Business Machines from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, July 20th. Finally, Societe Generale upgraded International Business Machines from a “sell” rating to a “hold” rating and increased their price target for the company from $121.00 to $140.00 in a research note on Tuesday, July 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $149.86.
International Business Machines (NYSE:IBM) last posted its earnings results on Sunday, July 18th. The technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.29 by $0.04. The firm had revenue of $18.75 billion for the quarter, compared to analyst estimates of $18.30 billion. International Business Machines had a return on equity of 36.79% and a net margin of 7.17%. International Business Machines’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.18 earnings per share. On average, analysts forecast that International Business Machines Co. will post 10.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Tuesday, August 10th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 4.86%. The ex-dividend date was Monday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.66%.
International Business Machines Company Profile
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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