Cullen Capital Management LLC Sells 14,617 Shares of International Business Machines Corporation $IBM

Cullen Capital Management LLC reduced its position in International Business Machines Corporation (NYSE:IBM) by 7.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 173,053 shares of the technology company’s stock after selling 14,617 shares during the period. Cullen Capital Management LLC’s holdings in International Business Machines were worth $51,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in IBM. Family CFO Inc purchased a new stake in International Business Machines in the 2nd quarter worth about $25,000. Winnow Wealth LLC purchased a new position in shares of International Business Machines in the second quarter worth about $27,000. Highline Wealth Partners LLC increased its stake in shares of International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Silicon Valley Capital Partners lifted its stake 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 valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, Copia Wealth Management boosted its holdings in International Business Machines by 57.6% in the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock worth $40,000 after buying an additional 49 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of analyst reports. Jefferies Financial Group boosted their target price on shares of International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. Bank of America boosted their price objective on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. UBS Group reissued a “sell” rating on shares of International Business Machines in a report on Tuesday, December 9th. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $293.38.

International Business Machines Price Performance

Shares of NYSE IBM opened at $309.33 on Monday. The stock’s 50-day simple moving average is $299.47 and its two-hundred day simple moving average is $278.32. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The firm has a market capitalization of $289.14 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.08 and a beta of 0.69. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97.

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

International Business Machines Announces Dividend

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

International Business Machines Company 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.