International Business Machines Corporation (NYSE:IBM) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA reduced its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 9.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,172 shares of the technology company's stock after selling 4,940 shares during the period. 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.

Several other large investors have also recently modified their holdings of IBM. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $43,000. Park Square Financial Group LLC bought a new stake in International Business Machines during the 4th quarter valued at $43,000. Mascagni Wealth Management Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in International Business Machines in the first quarter worth $45,000. Finally, M & L Capital Management Ltd acquired a new position in International Business Machines during the 4th quarter valued at about $48,000. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBM. Wedbush raised their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. UBS Group reiterated a "sell" rating and set a $195.00 price target (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday. Royal Bank Of Canada upped their target price on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a report on Monday. Finally, Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $259.06.

International Business Machines Price Performance

NYSE IBM traded down $4.10 during mid-day trading on Friday, hitting $283.33. The stock had a trading volume of 3,789,706 shares, compared to its average volume of 4,234,546. The firm's 50 day moving average is $272.42 and its 200 day moving average is $251.52. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market capitalization of $263.33 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 6.09 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $176.62 and a twelve month high of $296.16.

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

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is an increase 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 2.37%. International Business Machines's dividend payout ratio (DPR) is 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.