RPG Investment Advisory LLC Sells 956 Shares of International Business Machines Co. (NYSE:IBM)

RPG Investment Advisory LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBMFree 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 (NYSE:IBMGet Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.08. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The business had revenue of $14.75 billion during the quarter, compared to analysts’ expectations of $14.73 billion. During the same quarter in the prior year, the business posted $1.81 earnings per share. International Business Machines’s revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that International Business Machines Co. will post 9.45 earnings per share for the current year.

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.

Read Our Latest Stock Report on IBM

International Business Machines Company Profile

(Free Report)

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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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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