Brown Advisory Inc. Trims Position in International Business Machines Corporation $IBM

Key Points

• Brown Advisory Inc. reduced its IBM stake by 2.2% in the fourth quarter, selling 6,230 shares and ending with 273,611 shares valued at about $81.0 million.
• Several analysts remain positive on IBM despite some target cuts, with the stock carrying a Moderate Buy consensus and an average price target of $304.17.
• IBM reported better-than-expected quarterly results with EPS of $1.91 and revenue of $15.92 billion, and it also raised its quarterly dividend to $1.69 per share.

Brown Advisory Inc. trimmed its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,611 shares of the technology company's stock after selling 6,230 shares during the quarter. Brown Advisory Inc.'s holdings in International Business Machines were worth $81,046,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC increased its holdings in shares of International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock valued at $708,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. increased its holdings in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock valued at $742,000 after purchasing an additional 33 shares in the last quarter. New Covenant Trust Company N.A. increased its holdings in shares of International Business Machines by 3.8% during the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock valued at $264,000 after purchasing an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. increased its holdings in shares of International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock valued at $798,000 after purchasing an additional 33 shares in the last quarter. Finally, Altman Advisors Inc. increased its holdings in shares of International Business Machines by 0.3% during the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company's stock valued at $2,802,000 after purchasing an additional 34 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IBM. Jefferies Financial Group dropped their price target on shares of International Business Machines from $370.00 to $320.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Wedbush set a $350.00 price target on shares of International Business Machines in a research note on Tuesday, June 2nd. Stifel Nicolaus set a $290.00 price target on shares of International Business Machines in a research note on Friday, May 22nd. Barclays began coverage on shares of International Business Machines in a research note on Monday, June 1st. They issued an "overweight" rating and a $350.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of International Business Machines from $317.00 to $283.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and a consensus target price of $304.17.

International Business Machines Stock Down 0.2%

NYSE IBM opened at $271.77 on Monday. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $332.46. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The business's fifty day simple moving average is $250.02 and its 200-day simple moving average is $270.10. The firm has a market cap of $255.43 billion, a PE ratio of 24.03, a P/E/G ratio of 2.82 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. International Business Machines's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 EPS. As a group, equities analysts anticipate that International Business Machines Corporation will post 12.38 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines's dividend payout ratio is currently 59.77%.

About International Business Machines

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.