Envestnet Asset Management Inc. Decreases Position in International Business Machines Corporation (NYSE:IBM)

Envestnet Asset Management Inc. decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the 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 0.14% of International Business Machines worth $333,117,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $35,000. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

NYSE:IBM traded down $0.86 during trading hours on Friday, hitting $286.57. The stock had a trading volume of 531,062 shares, compared to its average volume of 4,487,915. The company has a 50 day simple moving average of $272.42 and a two-hundred day simple moving average of $251.52. 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 capitalization of $266.34 billion, a price-to-earnings ratio of 49.33, a P/E/G ratio of 6.09 and a beta of 0.69. 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 posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for 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% on a year-over-year basis. During the same quarter last year, the company posted $1.68 EPS. Research 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Wall Street Analyst Weigh In

IBM has been the subject of several analyst reports. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, UBS Group reaffirmed a "sell" rating and issued a $195.00 price objective (up from $170.00) on shares of International Business Machines in a report on Wednesday. One 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 stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus price target 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.