Jump Financial LLC reduced its stake in International Business Machines Co. by 36.2% in the fourth quarter, according to their latest filing with the Securities and Exchange Commission. The firm sold 1,218 shares, leaving them with 2,149 shares valued at $351,000. Other institutional investors also made changes to their positions, with several increasing their holdings in IBM during the fourth quarter. International Business Machines’ stock on the New York Stock Exchange opened at $170.89, with a fifty-day moving average price of $179.12 and a 200-day moving average price of $173.86.
The company recently announced its quarterly earnings, reporting $1.68 earnings per share for the quarter. This beat the consensus estimate of $1.59 by $0.09, with a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion for the quarter, slightly below analyst estimates. Additionally, International Business Machines increased its quarterly dividend to $1.67, representing an annualized dividend of $6.68 and a yield of 3.91%.
Analysts have recently provided ratings for IBM stock, with a mix of sell, hold, and buy ratings. The average rating is currently “Hold” with a consensus price target of $181.29. International Business Machines Corporation provides integrated solutions and services worldwide through its Software, Consulting, Infrastructure, and Financing segments.
In conclusion, International Business Machines Co. has seen changes in institutional investor holdings, quarterly earnings beat expectations, and an increase in dividend. Analysts have provided various ratings on the stock, with an overall consensus of “Hold” and an average price target of $181.29. The company continues to provide integrated solutions and services globally.
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https://www.defenseworld.net/2024/05/25/jump-financial-llc-has-351000-stock-holdings-in-international-business-machines-co-nyseibm.html