Nicolet Advisory Services LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,863 shares of the technology company’s stock after buying an additional 402 shares during the period. Nicolet Advisory Services LLC’s holdings in International Business Machines were worth $859,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Calamos Advisors LLC grew its holdings in shares of International Business Machines by 29.4% during the 2nd quarter. Calamos Advisors LLC now owns 127,933 shares of the technology company’s stock worth $18,754,000 after purchasing an additional 29,098 shares in the last quarter. Bank of The West boosted its stake in International Business Machines by 7.3% in the 1st quarter. Bank of The West now owns 17,432 shares of the technology company’s stock valued at $2,323,000 after buying an additional 1,186 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in International Business Machines in the 1st quarter valued at $2,511,000. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in International Business Machines by 2.0% in the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 37,182 shares of the technology company’s stock valued at $5,451,000 after buying an additional 726 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its stake in International Business Machines by 19.6% in the 1st quarter. Cresset Asset Management LLC now owns 26,722 shares of the technology company’s stock valued at $3,561,000 after buying an additional 4,377 shares in the last quarter. 55.24% of the stock is currently owned by institutional investors.
Several analysts recently commented on IBM shares. Societe Generale raised International Business Machines from a “sell” rating to a “hold” rating and boosted their price target for the company from $121.00 to $140.00 in a research note on Tuesday, July 20th. Citigroup boosted 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. Morgan Stanley boosted 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. Finally, BMO Capital Markets boosted 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $149.86.
International Business Machines (NYSE:IBM) last released its earnings results on Sunday, July 18th. The technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. The company had revenue of $18.75 billion during the quarter, compared to the consensus estimate of $18.30 billion. International Business Machines had a return on equity of 36.79% and a net margin of 7.17%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.18 earnings per share. As a group, equities analysts forecast that International Business Machines Co. will post 10.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, August 9th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.85%. International Business Machines’s payout ratio is currently 75.66%.
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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