Bridges Investment Management Inc. Cuts Position in International Business Machines Corporation (NYSE:IBM)

Bridges Investment Management Inc. lowered its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,937 shares of the technology company's stock after selling 1,740 shares during the period. Bridges Investment Management Inc.'s holdings in International Business Machines were worth $2,720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its stake in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after buying an additional 9,650,534 shares during the period. Norges Bank purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $1,236,176,000. GAMMA Investing LLC grew its holdings in shares of International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.0%

Shares of NYSE:IBM traded down $2.97 during trading on Friday, reaching $284.46. The stock had a trading volume of 1,612,071 shares, compared to its average volume of 4,496,087. The firm's 50-day simple moving average is $272.42 and its 200 day simple moving average is $251.52. The company has a market capitalization of $264.38 billion, a P/E ratio of 48.98, a PEG ratio of 6.09 and a beta of 0.69. 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 Corporation has a one year low of $178.50 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 EPS. As a group, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.36%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IBM shares. Royal Bank Of Canada upped their price objective 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. 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 report on Wednesday, July 2nd. UBS Group reissued a "sell" rating and issued a $195.00 price objective (up from $170.00) on shares of International Business Machines in a research note on Wednesday. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and a consensus target price of $259.06.

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.