Asset Management One Co. Ltd. lowered its stake in International Business Machines Corporation (NYSE:IBM) by 8.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,427,065 shares of the technology company’s stock after selling 124,360 shares during the period. Asset Management One Co. Ltd. owned about 0.15% of International Business Machines Corporation worth $248,490,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. Independence Advisors LLC increased its stake in International Business Machines Corporation by 0.3% in the first quarter. Independence Advisors LLC now owns 1,937 shares of the technology company’s stock valued at $337,000 after buying an additional 5 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its position in shares of International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock valued at $122,000 after buying an additional 6 shares during the last quarter. K.J. Harrison & Partners Inc raised its position in shares of International Business Machines Corporation by 0.4% in the first quarter. K.J. Harrison & Partners Inc now owns 1,955 shares of the technology company’s stock valued at $340,000 after buying an additional 7 shares during the last quarter. Arthur M. Cohen & Associates LLC raised its position in shares of International Business Machines Corporation by 0.5% in the first quarter. Arthur M. Cohen & Associates LLC now owns 1,362 shares of the technology company’s stock valued at $237,000 after buying an additional 7 shares during the last quarter. Finally, Financial & Investment Management Group Ltd. raised its position in shares of International Business Machines Corporation by 0.6% in the first quarter. Financial & Investment Management Group Ltd. now owns 1,958 shares of the technology company’s stock valued at $341,000 after buying an additional 12 shares during the last quarter. Institutional investors own 58.57% of the company’s stock.
International Business Machines Corporation (IBM) opened at 139.70 on Friday. The firm has a 50-day moving average price of $147.30 and a 200 day moving average price of $161.22. International Business Machines Corporation has a 12-month low of $139.58 and a 12-month high of $182.79. The firm has a market cap of $130.19 billion, a PE ratio of 11.59 and a beta of 0.97.
International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. During the same period in the previous year, the business earned $2.95 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. Equities research analysts forecast that International Business Machines Corporation will post $13.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be given a dividend of $1.50 per share. The ex-dividend date is Tuesday, August 8th. This represents a $6.00 annualized dividend and a yield of 4.29%. International Business Machines Corporation’s dividend payout ratio is currently 49.88%.
Several research analysts have recently commented on the company. Sanford C. Bernstein reiterated a “neutral” rating and issued a $150.00 target price on shares of International Business Machines Corporation in a research report on Friday, May 5th. Wells Fargo & Company restated a “market perform” rating and set a $162.50 price objective on shares of International Business Machines Corporation in a research report on Tuesday, April 25th. UBS AG restated a “neutral” rating and set a $167.00 price objective (down previously from $185.00) on shares of International Business Machines Corporation in a research report on Saturday, April 22nd. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Cleveland Research initiated coverage on International Business Machines Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating for the company. Seven analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $157.40.
About International Business Machines Corporation
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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