Meritage Portfolio Management Buys 371 Shares of International Business Machines Co. (NYSE:IBM)

Meritage Portfolio Management grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,996 shares of the technology company’s stock after acquiring an additional 371 shares during the period. Meritage Portfolio Management’s holdings in International Business Machines were worth $932,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bedel Financial Consulting Inc. boosted its holdings in International Business Machines by 17.7% in the 4th quarter. Bedel Financial Consulting Inc. now owns 3,948 shares of the technology company’s stock worth $497,000 after buying an additional 593 shares during the period. Principle Wealth Partners LLC lifted its stake in International Business Machines by 184.7% in the 4th quarter. Principle Wealth Partners LLC now owns 48,847 shares of the technology company’s stock worth $6,149,000 after purchasing an additional 31,689 shares in the last quarter. 1ST Source Bank lifted its stake in International Business Machines by 1.7% in the 4th quarter. 1ST Source Bank now owns 38,754 shares of the technology company’s stock worth $4,878,000 after purchasing an additional 650 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its stake in International Business Machines by 37.4% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 9,066 shares of the technology company’s stock worth $1,141,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Kinloch Capital LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $1,692,000. 55.67% of the stock is owned by institutional investors.

Shares of International Business Machines stock opened at $144.75 on Tuesday. The firm has a market cap of $129.34 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. International Business Machines Co. has a 12-month low of $105.92 and a 12-month high of $148.74. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 2.58. The company’s fifty day simple moving average is $135.20 and its two-hundred day simple moving average is $125.17.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Sunday, April 18th. The technology company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.14. The business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.35 billion. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 8.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Monday, May 10th will be paid a dividend of $1.64 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 7th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.53%. International Business Machines’s payout ratio is presently 50.90%.

Several analysts have recently weighed in on IBM shares. Morgan Stanley raised their price objective on shares of International Business Machines from $150.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, April 26th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $147.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, April 20th. Credit Suisse Group raised their price objective on shares of International Business Machines from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, April 26th. Finally, BMO Capital Markets raised their price objective on shares of International Business Machines from $138.00 to $150.00 and gave the company a “market perform” rating in a research report on Monday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $146.00.

International Business Machines Profile

International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, supply chain, and asset management, weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

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

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