Banque Pictet & Cie SA Reduces Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Banque Pictet & Cie SA cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,172 shares of the technology company's stock after selling 4,940 shares during the quarter. Banque Pictet & Cie SA's holdings in International Business Machines were worth $11,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Axxcess Wealth Management LLC increased its position in International Business Machines by 11.3% during the first quarter. Axxcess Wealth Management LLC now owns 21,131 shares of the technology company's stock valued at $5,254,000 after acquiring an additional 2,150 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in International Business Machines by 34.4% in the 1st quarter. Rehmann Capital Advisory Group now owns 14,406 shares of the technology company's stock worth $3,582,000 after buying an additional 3,689 shares during the period. Cornerstone Planning Group LLC boosted its holdings in International Business Machines by 8.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,177 shares of the technology company's stock worth $289,000 after buying an additional 96 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in International Business Machines by 8.7% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 4,411 shares of the technology company's stock worth $1,097,000 after buying an additional 353 shares during the period. Finally, Trek Financial LLC increased its holdings in shares of International Business Machines by 437.7% in the first quarter. Trek Financial LLC now owns 27,513 shares of the technology company's stock worth $6,841,000 after purchasing an additional 22,396 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBM has been the topic of several research reports. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. The Goldman Sachs Group raised their price objective on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday. Finally, Morgan Stanley lowered their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $259.06.

International Business Machines Stock Down 1.0%

Shares of IBM stock traded down $2.95 on Thursday, hitting $287.19. The stock had a trading volume of 3,484,681 shares, compared to its average volume of 4,236,335. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The business has a 50 day moving average price of $272.42 and a 200 day moving average price of $251.52. The company has a market cap of $266.91 billion, a PE ratio of 49.43, a P/E/G ratio of 6.09 and a beta of 0.69. International Business Machines Corporation has a one year low of $176.62 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 earnings per share. Research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.34%. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

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.