International Business Machines Corporation (NYSE:IBM) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,339,650 shares of the technology company's stock after selling 21,996 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of International Business Machines worth $333,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Capital World Investors boosted its position in International Business Machines by 413.5% in the 4th 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 last quarter. Norges Bank purchased a new position in International Business Machines in the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC boosted its position in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after buying an additional 4,384,958 shares during the last quarter. Northern Trust Corp boosted its position in International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in 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 valued at $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 Price Performance

Shares of NYSE IBM traded down $2.80 during mid-day trading on Thursday, reaching $287.34. 2,320,716 shares of the company traded hands, compared to its average volume of 4,509,539. International Business Machines Corporation has a fifty-two week low of $176.62 and a fifty-two week high of $296.16. 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 firm has a market cap of $267.06 billion, a PE ratio of 49.46, a price-to-earnings-growth ratio of 6.10 and a beta of 0.69. The stock has a fifty day simple moving average of $271.47 and a 200-day simple moving average of $251.07.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the business earned $1.68 earnings per share. The business's revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Wedbush increased their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $259.06.

About International Business Machines

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.