New Capital Management LP Has $458,000 Holdings in International Business Machines Co. (NYSE:IBM)
New Capital Management LP cut its position in International Business Machines Co. (NYSE:IBM – Get Rating) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,425 shares of the technology company’s stock after selling 200 shares during the period. New Capital Management LP’s holdings in International Business Machines were worth $458,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in shares of International Business Machines by 92.8% during the third quarter. Nordea Investment Management AB now owns 6,834,777 shares of the technology company’s stock worth $956,458,000 after purchasing an additional 3,290,542 shares in the last quarter. BlackRock Inc. raised its stake in shares of International Business Machines by 1.1% during the third quarter. BlackRock Inc. now owns 64,528,194 shares of the technology company’s stock worth $8,964,901,000 after buying an additional 722,962 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of International Business Machines by 490.7% during the third quarter. First Horizon Advisors Inc. now owns 758,286 shares of the technology company’s stock worth $58,434,000 after buying an additional 629,916 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of International Business Machines by 10.5% during the third quarter. Dimensional Fund Advisors LP now owns 4,610,624 shares of the technology company’s stock worth $640,574,000 after buying an additional 439,743 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of International Business Machines by 13.7% during the third quarter. Deutsche Bank AG now owns 3,413,011 shares of the technology company’s stock worth $474,169,000 after buying an additional 412,405 shares during the last quarter. Hedge funds and other institutional investors own 54.91% of the company’s stock.
IBM stock traded up $0.13 during trading hours on Friday, reaching $130.15. The stock had a trading volume of 4,011,323 shares, compared to its average volume of 5,498,364. The stock has a market capitalization of $117.05 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.88 and a quick ratio of 0.83. The stock has a 50-day simple moving average of $129.22 and a 200 day simple moving average of $129.63. International Business Machines Co. has a fifty-two week low of $114.56 and a fifty-two week high of $152.84.
International Business Machines (NYSE:IBM – Get Rating) last announced its quarterly earnings results on Monday, January 24th. The technology company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.04). The firm had revenue of $16.70 billion during the quarter, compared to analyst estimates of $15.96 billion. International Business Machines had a net margin of 8.11% and a return on equity of 42.49%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 EPS. On average, sell-side analysts forecast that International Business Machines Co. will post 10.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Stockholders of record on Friday, February 11th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date was Thursday, February 10th. International Business Machines’s dividend payout ratio is presently 103.31%.
IBM has been the subject of a number of recent research reports. Stifel Nicolaus dropped their price target on shares of International Business Machines from $151.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 15th. BMO Capital Markets upped their target price on shares of International Business Machines from $153.00 to $155.00 and gave the company a “market perform” rating in a research note on Tuesday, January 25th. The Goldman Sachs Group started coverage on shares of International Business Machines in a research note on Sunday, January 9th. They issued a “neutral” rating and a $140.00 target price for the company. UBS Group lowered their target price on shares of International Business Machines from $124.00 to $118.00 in a research note on Tuesday, January 25th. Finally, Evercore ISI started coverage on shares of International Business Machines in a research note on Thursday, December 2nd. They issued a “positive” rating and a $125.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $146.45.
International Business Machines Company Profile (Get Rating)
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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