Baker Avenue Asset Management LP Sells 3,940 Shares of International Business Machines Corporation $IBM

Baker Avenue Asset Management LP cut its position in International Business Machines Corporation (NYSE:IBM) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,539 shares of the technology company’s stock after selling 3,940 shares during the quarter. Baker Avenue Asset Management LP’s holdings in International Business Machines were worth $17,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in IBM. Family CFO Inc purchased a new stake in shares of International Business Machines in the 2nd quarter valued at about $25,000. Winnow Wealth LLC purchased a new stake in International Business Machines in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC grew its stake in International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Dagco Inc. bought a new position in shares of International Business Machines in the 1st quarter worth $31,000. Finally, Silicon Valley Capital Partners lifted its holdings in shares of 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 during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on IBM shares. Royal Bank Of Canada reduced their target price on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Sanford C. Bernstein initiated coverage on International Business Machines in a research report on Monday, September 15th. They issued a “market perform” rating and a $280.00 target price for the company. Stifel Nicolaus decreased their price target on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. UBS Group upped their price objective on shares of International Business Machines from $200.00 to $210.00 and gave the company a “sell” rating in a research note on Thursday, October 23rd. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a research report on Friday, November 21st. They issued an “outperform” rating and a $360.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.08.

International Business Machines Trading Up 0.0%

NYSE IBM opened at $308.09 on Monday. The stock has a market cap of $287.98 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 3.07 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The stock has a 50 day simple moving average of $296.91 and a two-hundred day simple moving average of $276.54. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. During the same period in the previous year, the firm earned $2.30 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a $1.68 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s dividend 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.