Cary Street Partners Financial LLC Decreases Stake in International Business Machines Corporation $IBM

Cary Street Partners Financial LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 6.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 26,185 shares of the technology company’s stock after selling 1,805 shares during the quarter. Cary Street Partners Financial LLC’s holdings in International Business Machines were worth $7,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 2.1% during 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 acquiring an additional 1,913,708 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 1.9% during the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after purchasing an additional 400,131 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in International Business Machines by 6.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after purchasing an additional 524,633 shares during the period. Legal & General Group Plc boosted its holdings in International Business Machines by 3.4% in the second quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock worth $2,100,751,000 after purchasing an additional 234,318 shares during the last quarter. Finally, Norges Bank purchased a new stake in International Business Machines in the second quarter worth approximately $2,011,122,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IBM. Sanford C. Bernstein initiated coverage on International Business Machines in a report on Monday, September 15th. They set a “market perform” rating and a $280.00 price target on the stock. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday. 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 boosted their price target on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Finally, Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $291.08.

International Business Machines Stock Up 0.0%

Shares of IBM opened at $308.09 on Monday. The business’s 50 day moving average is $296.91 and its 200 day moving average is $276.54. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a market capitalization of $287.98 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 3.07 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The business had revenue of $16.33 billion during 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%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.30 EPS. 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 business also recently declared 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. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s payout ratio is currently 80.38%.

About International Business Machines

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.