Everence Capital Management Inc. Buys New Position in International Business Machines Co. (NYSE:IBM)

Everence Capital Management Inc. bought a new stake in International Business Machines Co. (NYSE:IBM) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,862 shares of the technology company’s stock, valued at approximately $2,913,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of International Business Machines by 2.2% in the 4th quarter. BlackRock Inc. now owns 62,271,273 shares of the technology company’s stock valued at $7,838,709,000 after purchasing an additional 1,324,858 shares during the period. Charles Schwab Investment Management Inc. lifted its position in International Business Machines by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,571,878 shares of the technology company’s stock worth $1,582,548,000 after acquiring an additional 943,571 shares during the period. Morgan Stanley lifted its position in International Business Machines by 6.4% during the 4th quarter. Morgan Stanley now owns 9,853,901 shares of the technology company’s stock worth $1,240,410,000 after acquiring an additional 592,500 shares during the period. Norges Bank acquired a new stake in International Business Machines during the 4th quarter worth approximately $1,116,008,000. Finally, Dimensional Fund Advisors LP lifted its position in International Business Machines by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,066,979 shares of the technology company’s stock worth $511,909,000 after acquiring an additional 76,646 shares during the period. 55.67% of the stock is owned by hedge funds and other institutional investors.

Separately, Morgan Stanley increased their price objective on International Business Machines from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $139.77.

NYSE IBM traded down $0.54 during mid-day trading on Thursday, hitting $134.39. The stock had a trading volume of 101,786 shares, compared to its average volume of 6,569,584. International Business Machines Co. has a 52-week low of $105.92 and a 52-week high of $137.07. The company has a market cap of $120.09 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a 50 day simple moving average of $126.88 and a 200 day simple moving average of $123.18. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 2.58.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 20th. The technology company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.28. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.59 billion. During the same period last year, the business posted $4.71 EPS. As a group, equities analysts anticipate 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 was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Tuesday, February 9th. International Business Machines’s dividend payout ratio (DPR) is presently 50.90%.

About International Business Machines

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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