Cornerstone Advisory LLC Sells 94 Shares of International Business Machines Co. (NYSE:IBM)

Cornerstone Advisory LLC lessened its stake in International Business Machines Co. (NYSE:IBMGet Rating) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,228 shares of the technology company’s stock after selling 94 shares during the period. Cornerstone Advisory LLC’s holdings in International Business Machines were worth $940,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of International Business Machines during the 4th quarter valued at $1,025,028,000. State Street Corp grew its position in shares of International Business Machines by 3.3% during the 4th quarter. State Street Corp now owns 53,048,681 shares of the technology company’s stock valued at $7,090,487,000 after acquiring an additional 1,687,122 shares during the period. Millennium Management LLC boosted its holdings in International Business Machines by 115.2% in the 4th quarter. Millennium Management LLC now owns 212,230 shares of the technology company’s stock worth $28,367,000 after buying an additional 1,610,410 shares during the period. Vanguard Group Inc. boosted its holdings in International Business Machines by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 77,002,099 shares of the technology company’s stock worth $10,011,813,000 after buying an additional 1,448,444 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in International Business Machines by 35.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock worth $579,892,000 after buying an additional 1,163,790 shares during the period. Institutional investors own 55.52% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $127.69 on Thursday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.88 and a quick ratio of 0.82. International Business Machines Co. has a 1-year low of $114.56 and a 1-year high of $146.00. The firm has a market capitalization of $115.33 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. The company’s 50-day moving average is $132.67 and its 200 day moving average is $132.89.

International Business Machines (NYSE:IBMGet Rating) last issued its earnings results on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.02. The business had revenue of $15.54 billion for the quarter, compared to the consensus estimate of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 EPS. Research analysts forecast that International Business Machines Co. will post 9.47 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th were paid a dividend of $1.65 per share. The ex-dividend date was Tuesday, August 9th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 5.17%. International Business Machines’s dividend payout ratio is presently 107.14%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IBM shares. Societe Generale dropped their target price on shares of International Business Machines to $129.00 in a report on Tuesday. Credit Suisse Group boosted their price target on shares of International Business Machines from $156.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Morgan Stanley decreased their price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Finally, BMO Capital Markets decreased their price target on shares of International Business Machines from $152.00 to $148.00 in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $145.18.

About International Business Machines

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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

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