RPG Investment Advisory LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 74,484 shares of the technology company’s stock after selling 956 shares during the period. International Business Machines accounts for approximately 1.7% of RPG Investment Advisory LLC’s portfolio, making the stock its 21st biggest position. RPG Investment Advisory LLC’s holdings in International Business Machines were worth $9,967,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in IBM. Fiduciary Alliance LLC bought a new position in shares of International Business Machines in the 2nd quarter valued at about $25,000. Live Oak Investment Partners acquired a new position in International Business Machines during the fourth quarter valued at approximately $30,000. GW&K Investment Management LLC bought a new position in International Business Machines in the first quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of International Business Machines during the 2nd quarter worth approximately $34,000. Finally, Pacific Center for Financial Services bought a new position in shares of International Business Machines in the first quarter valued at $41,000. Institutional investors own 56.16% of the company’s stock.
International Business Machines Price Performance
Shares of NYSE:IBM traded up $0.81 during trading on Monday, reaching $153.70. 747,858 shares of the company traded hands, compared to its average volume of 4,476,488. The company has a quick ratio of 0.86, a current ratio of 0.91 and a debt-to-equity ratio of 2.11. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $153.73. The firm has a market capitalization of $140.35 billion, a PE ratio of 20.25, a PEG ratio of 4.16 and a beta of 0.76. The company’s 50 day moving average is $144.33 and its two-hundred day moving average is $138.97.
International Business Machines Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Investors of record on Friday, November 10th will be paid a $1.66 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $6.64 dividend on an annualized basis and a yield of 4.32%. International Business Machines’s dividend payout ratio (DPR) is 88.06%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on IBM. Royal Bank of Canada lowered their price objective on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. BMO Capital Markets boosted their target price on International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a report on Thursday, October 26th. Wedbush reaffirmed a “neutral” rating and set a $140.00 price objective on shares of International Business Machines in a research report on Monday, November 13th. Morgan Stanley dropped their price objective on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $149.09.
International Business Machines Company Profile
International Business Machines Corporation, together with its subsidiaries, 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; 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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