Wealthfront Advisers LLC Has $35.48 Million Stock Holdings in International Business Machines Corporation $IBM

Wealthfront Advisers LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 2.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 125,746 shares of the technology company’s stock after selling 3,509 shares during the period. Wealthfront Advisers LLC’s holdings in International Business Machines were worth $35,480,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in International Business Machines during the second quarter worth $2,011,122,000. Vanguard Group Inc. grew its stake in International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the period. Laurel Wealth Advisors LLC increased its position in shares of International Business Machines by 27,928.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock valued at $561,001,000 after purchasing an additional 1,896,326 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of International Business Machines during the 2nd quarter worth $133,771,000. Finally, Franklin Resources Inc. boosted its holdings in shares of International Business Machines by 45.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,313,241 shares of the technology company’s stock worth $387,118,000 after buying an additional 412,574 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on IBM. Jefferies Financial Group raised their price objective on shares of International Business Machines from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Dbs Bank raised shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 19th. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Bank of America upped their price objective on International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada set a $361.00 price objective on International Business Machines in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $330.07.

Insiders Place Their Bets

In other International Business Machines news, Director David N. Farr purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the purchase, the director directly owned 9,258 shares in the company, valued at $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

International Business Machines Stock Performance

International Business Machines stock opened at $296.51 on Tuesday. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96. The stock has a market cap of $277.16 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 3.00 and a beta of 0.69. The firm’s fifty day moving average price is $301.92 and its 200-day moving average price is $283.91.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.19. The company had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.92 EPS. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s dividend payout ratio is presently 60.27%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.