Consolidated Planning Corp Takes Position in International Business Machines Co. (NYSE:IBM)

Consolidated Planning Corp purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,417 shares of the technology company’s stock, valued at approximately $232,000.

A number of other hedge funds also recently bought and sold shares of IBM. Evanson Asset Management LLC lifted its position in International Business Machines by 10.4% in the 3rd quarter. Evanson Asset Management LLC now owns 1,989 shares of the technology company’s stock worth $279,000 after buying an additional 187 shares during the last quarter. Lantz Financial LLC lifted its position in International Business Machines by 4.9% in the 3rd quarter. Lantz Financial LLC now owns 11,238 shares of the technology company’s stock worth $1,577,000 after buying an additional 521 shares during the last quarter. Golden State Equity Partners lifted its position in International Business Machines by 3.2% in the 3rd quarter. Golden State Equity Partners now owns 14,506 shares of the technology company’s stock worth $2,035,000 after buying an additional 443 shares during the last quarter. Signet Investment Advisory Group Inc. increased its stake in International Business Machines by 0.8% in the 3rd quarter. Signet Investment Advisory Group Inc. now owns 14,538 shares of the technology company’s stock worth $2,040,000 after purchasing an additional 115 shares during the period. Finally, Avestar Capital LLC increased its stake in International Business Machines by 28.5% in the 3rd quarter. Avestar Capital LLC now owns 2,606 shares of the technology company’s stock worth $366,000 after purchasing an additional 578 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $1.78 during midday trading on Friday, reaching $167.13. 8,983,796 shares of the company’s stock traded hands, compared to its average volume of 3,906,041. The company has a market cap of $153.21 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 3.30 and a beta of 0.70. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.93 and a current ratio of 1.13. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The stock has a 50 day moving average of $187.60 and a 200 day moving average of $170.34.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. International Business Machines’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio is 75.20%.

Analysts Set New Price Targets

A number of equities analysts have commented on IBM shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research note on Wednesday, April 17th. BMO Capital Markets decreased their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group reduced their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, Bank of America boosted their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $184.08.

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.