Kalos Management Inc. increased its stake in shares of International Business Machines Corp. (NYSE:IBM) by 10.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,920 shares of the technology company’s stock after acquiring an additional 1,656 shares during the quarter. International Business Machines accounts for 1.6% of Kalos Management Inc.’s portfolio, making the stock its 20th biggest position. Kalos Management Inc.’s holdings in International Business Machines were worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Cedar Hill Associates LLC bought a new stake in International Business Machines during the third quarter worth $264,000. Greytown Advisors Inc. grew its holdings in International Business Machines by 63.6% during the third quarter. Greytown Advisors Inc. now owns 5,231 shares of the technology company’s stock worth $759,000 after buying an additional 2,034 shares in the last quarter. Beacon Investment Advisory Services Inc. bought a new stake in International Business Machines during the third quarter worth $781,000. Patten Group Inc. grew its holdings in International Business Machines by 5,188.0% during the third quarter. Patten Group Inc. now owns 140,449 shares of the technology company’s stock worth $362,000 after buying an additional 137,793 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. grew its holdings in International Business Machines by 2,040.4% during the third quarter. Laurel Wealth Advisors Inc. now owns 253,444 shares of the technology company’s stock worth $1,571,000 after buying an additional 241,603 shares in the last quarter. Institutional investors and hedge funds own 57.06% of the company’s stock.
Several equities research analysts recently issued reports on the company. Oppenheimer reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, October 18th. UBS Group reissued a “neutral” rating and issued a $160.00 price objective (up previously from $152.00) on shares of International Business Machines in a research report on Wednesday, October 18th. BMO Capital Markets reissued a “hold” rating and issued a $175.00 price objective on shares of International Business Machines in a research report on Thursday, January 11th. They noted that the move was a valuation call. Barclays boosted their price objective on International Business Machines from $132.00 to $133.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 18th. Finally, Zacks Investment Research raised International Business Machines from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. International Business Machines presently has an average rating of “Hold” and a consensus target price of $164.37.
International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.17 by $0.01. The business had revenue of $22.54 billion for the quarter, compared to analysts’ expectations of $22.03 billion. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.01 EPS. analysts expect that International Business Machines Corp. will post 13.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 9th will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a yield of 4.01%. International Business Machines’s dividend payout ratio (DPR) is 98.20%.
In related news, Director Frederick H. Waddell acquired 610 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were acquired at an average price of $163.38 per share, with a total value of $99,661.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.
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International Business Machines Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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