Bessemer Group Inc. Has $186.70 Million Stock Position in International Business Machines Corporation $IBM

Key Points

• Bessemer Group Inc. reduced its IBM stake by 8.3% in the first quarter, selling 70,162 shares and leaving it with 770,245 shares valued at about $186.7 million.
• IBM has been under pressure after preliminary Q2 results missed expectations and management said some large deals were delayed as customers pulled back on spending, hurting sentiment around the stock.
• Despite the recent weakness, IBM beat first-quarter earnings and revenue estimates and raised its quarterly dividend to $1.69 per share, putting the annualized yield at about 3.1%.

Bessemer Group Inc. cut its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 770,245 shares of the technology company's stock after selling 70,162 shares during the quarter. Bessemer Group Inc. owned 0.08% of International Business Machines worth $186,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Family CFO Inc bought a new stake in shares of International Business Machines in the 4th quarter valued at $25,000. Basepoint Wealth LLC bought a new position in International Business Machines during the fourth quarter worth $25,000. Portus Wealth Advisors LLC acquired a new stake in International Business Machines in the first quarter worth $26,000. Joseph Group Capital Management bought a new stake in International Business Machines in the fourth quarter valued at $28,000. Finally, Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $28,000. 58.96% of the stock is currently owned by institutional investors.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM’s preliminary Q2 results came in below expectations, with softer revenue and adjusted EPS fueling the sharp selloff and a major reset in investor confidence. Article Title
• Negative Sentiment: Management said some large deals were delayed as customers reassessed spending, reinforcing concerns that IBM is being hurt by changing enterprise tech budgets and slower software demand. Article Title
• Negative Sentiment: Several reports highlighted the stock’s historic one-day drop, securities-fraud investigations, and analyst downgrades/target cuts, all of which can keep sentiment and trading pressure negative. Article Title

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley raised their target price on International Business Machines from $267.00 to $293.00 and gave the company an "equal weight" rating in a research note on Tuesday. Roth Capital reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Needham & Company LLC began coverage on International Business Machines in a report on Wednesday, June 3rd. They issued a "buy" rating on the stock. KeyCorp cut International Business Machines to a "sector weight" rating in a research note on Tuesday, June 23rd. Finally, BMO Capital Markets decreased their price objective on International Business Machines from $290.00 to $270.00 and set a "market perform" rating for the company in a report on Thursday, April 23rd. Fifteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and a consensus price target of $301.83.

International Business Machines Stock Performance

Shares of IBM opened at $219.39 on Friday. The firm has a market capitalization of $206.21 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.06 and a beta of 0.68. International Business Machines Corporation has a 52 week low of $204.44 and a 52 week high of $332.46. The stock has a 50 day moving average price of $264.17 and a two-hundred day moving average price of $263.94. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. Equities analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 3.1%. International Business Machines's dividend payout ratio (DPR) is 59.77%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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