Banque Pictet & Cie SA cut its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 9.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 SEC filing.
Other large investors have also bought and sold shares of the company. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines during the fourth quarter valued at $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at $43,000. Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines during the fourth quarter valued at $43,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines during the first quarter valued at $45,000. Finally, M & L Capital Management Ltd purchased a new stake in shares of International Business Machines during the fourth quarter valued at $48,000. 58.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on IBM. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research note on Monday. Morgan Stanley dropped their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines has a consensus rating of "Moderate Buy" and an average price target of $259.06.
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International Business Machines Stock Performance
Shares of NYSE IBM traded down $2.62 during midday trading on Thursday, reaching $287.52. The company had a trading volume of 1,983,847 shares, compared to its average volume of 4,227,372. The business's 50-day simple moving average is $271.47 and its 200 day simple moving average is $251.07. The stock has a market cap of $267.22 billion, a P/E ratio of 49.47, a P/E/G ratio of 6.10 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $174.45 and a 1 year high of $296.16. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09.
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 (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter last year, the company posted $1.68 earnings per share. The business's quarterly revenue was up .5% on a year-over-year basis. On average, 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 company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. International Business Machines's dividend payout ratio is presently 115.66%.
About International Business Machines
(
Free Report)
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.
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