International Business Machines Co. (NYSE:IBM) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its holdings in International Business Machines Co. (NYSE:IBM) by 57.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,149 shares of the technology company’s stock after purchasing an additional 6,259 shares during the period. Citizens Financial Group Inc. RI’s holdings in International Business Machines were worth $2,805,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IBM. Ballentine Partners LLC grew its holdings in shares of International Business Machines by 1.5% in the third quarter. Ballentine Partners LLC now owns 12,826 shares of the technology company’s stock valued at $1,799,000 after purchasing an additional 194 shares in the last quarter. TFG Advisers LLC grew its holdings in shares of International Business Machines by 11.6% in the third quarter. TFG Advisers LLC now owns 7,538 shares of the technology company’s stock valued at $1,058,000 after purchasing an additional 786 shares in the last quarter. First Personal Financial Services grew its holdings in shares of International Business Machines by 23.8% in the third quarter. First Personal Financial Services now owns 3,544 shares of the technology company’s stock valued at $497,000 after purchasing an additional 681 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of International Business Machines by 45.5% in the third quarter. MCF Advisors LLC now owns 1,683 shares of the technology company’s stock valued at $236,000 after purchasing an additional 526 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of International Business Machines by 0.6% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 126,269 shares of the technology company’s stock valued at $17,715,000 after purchasing an additional 765 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on IBM shares. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Morgan Stanley lowered their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday. Finally, BMO Capital Markets lowered their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $184.08.

International Business Machines Stock Down 1.1 %

Shares of NYSE:IBM traded down $1.78 during trading on Friday, hitting $167.13. 8,983,796 shares of the company were exchanged, compared to its average volume of 3,906,041. The stock has a market capitalization of $153.21 billion, a P/E ratio of 18.94, a PEG ratio of 3.33 and a beta of 0.70. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The firm’s 50 day moving average price is $187.60 and its 200-day moving average price is $170.15.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the previous year, the firm earned $1.36 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 9.99 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.97%. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.