International Business Machines Corporation $IBM Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. cut its stake in International Business Machines Corporation (NYSE:IBM) by 8.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 511,592 shares of the technology company’s stock after selling 45,655 shares during the period. 1832 Asset Management L.P.’s holdings in International Business Machines were worth $150,807,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Family CFO Inc acquired a new position in shares of International Business Machines during the second quarter worth about $25,000. Winnow Wealth LLC acquired a new stake in International Business Machines in the second quarter valued at approximately $27,000. Dagco Inc. purchased a new position in International Business Machines in the first quarter worth approximately $31,000. Silicon Valley Capital Partners grew its holdings in International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Highline Wealth Partners LLC increased its position in shares of International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IBM. Sanford C. Bernstein began coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective on the stock. BMO Capital Markets increased their target price on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Jefferies Financial Group lifted their price target on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Finally, Stifel Nicolaus cut their target price on International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and an average price target of $291.08.

International Business Machines Trading Down 1.3%

NYSE:IBM opened at $301.81 on Wednesday. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. The stock’s 50 day simple moving average is $295.22 and its 200-day simple moving average is $275.67. The firm has a market cap of $282.11 billion, a P/E ratio of 36.10, a PEG ratio of 4.33 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. International Business Machines’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.30 EPS. Equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s payout ratio is 80.38%.

International Business Machines 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.