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

Envestnet Asset Management Inc. cut its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,339,650 shares of the technology company's stock after selling 21,996 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of International Business Machines worth $333,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $35,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in International Business Machines during the 1st quarter worth about $45,000. Park Square Financial Group LLC purchased a new stake in International Business Machines during the 4th quarter worth about $43,000. Park Place Capital Corp increased its stake in shares of International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after buying an additional 58 shares during the period. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines in the 4th quarter valued at approximately $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday. Wedbush increased their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $259.06.

International Business Machines Stock Performance

Shares of IBM stock traded down $4.10 during midday trading on Friday, hitting $283.33. The company had a trading volume of 3,789,706 shares, compared to its average volume of 4,240,258. The company's 50 day simple moving average is $273.18 and its 200 day simple moving average is $251.92. International Business Machines Corporation has a 52-week low of $178.50 and a 52-week high of $296.16. The stock has a market cap of $263.33 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 6.04 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

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 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 firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the firm posted $1.68 EPS. International Business Machines's quarterly revenue was up .5% on a year-over-year basis. Research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.37%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

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.