International Business Machines Co. (NYSE:IBM) Shares Sold by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,604 shares of the technology company’s stock after selling 685 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in International Business Machines were worth $2,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Naples Money Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $28,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines in the 3rd quarter valued at about $31,000. Stone House Investment Management LLC grew its stake in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. boosted its stake in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Cordant Inc. boosted its stake in shares of International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM stock traded down $0.55 during mid-day trading on Wednesday, reaching $165.65. The company had a trading volume of 1,169,985 shares, compared to its average volume of 4,976,527. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $151.86 billion, a P/E ratio of 18.76, a P/E/G ratio of 4.10 and a beta of 0.70. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The stock’s 50-day simple moving average is $186.85 and its two-hundred day simple moving average is $170.91.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. Research analysts anticipate that International Business Machines Co. will post 9.98 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $1.67 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.03%. International Business Machines’s payout ratio is currently 75.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Wedbush increased their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Morgan Stanley cut their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. JPMorgan Chase & Co. dropped their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $184.08.

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.