Pettyjohn Wood & White Inc. Acquires 62 Shares of International Business Machines Co. (NYSE:IBM)

Pettyjohn Wood & White Inc. raised its stake in shares of International Business Machines Co. (NYSE:IBMFree Report) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,097 shares of the technology company’s stock after buying an additional 62 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in International Business Machines were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Naples Money Management LLC purchased a new stake in International Business Machines in the 4th quarter worth $28,000. Stone House Investment Management LLC lifted its position in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. boosted its stake in International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 91 shares during the last quarter. Cordant Inc. grew its holdings in International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after buying an additional 226 shares in the last quarter. Finally, Newton One Investments LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $45,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.1 %

IBM traded up $0.10 during trading hours on Thursday, reaching $169.10. 3,525,558 shares of the company’s stock traded hands, compared to its average volume of 4,588,569. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a 50-day moving average price of $172.83 and a 200 day moving average price of $175.47. International Business Machines Co. has a 52-week low of $129.18 and a 52-week high of $199.18. The firm has a market capitalization of $155.34 billion, a PE ratio of 19.15, a PEG ratio of 4.20 and a beta of 0.72.

International Business Machines (NYSE:IBMGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, sell-side analysts predict that International Business Machines Co. will post 9.91 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.95%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group increased their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Morgan Stanley dropped their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a report on Wednesday, May 22nd. Finally, Jefferies Financial Group reduced their price objective 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. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $181.29.

Check Out Our Latest Analysis on International Business Machines

International Business Machines Profile

(Free Report)

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.

Further Reading

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

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