International Business Machines Corporation (NYSE:IBM) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 62.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,781 shares of the technology company's stock after selling 29,870 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in International Business Machines were worth $4,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Capital World Investors increased its holdings 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 worth $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new stake in International Business Machines in the 4th quarter worth $1,236,176,000. GAMMA Investing LLC increased its holdings 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 worth $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in International Business Machines in the 4th quarter worth $592,746,000. Finally, Northern Trust Corp increased its holdings 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 worth $2,384,275,000 after acquiring an additional 1,704,209 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Up 2.9%

Shares of IBM traded up $8.28 during mid-day trading on Monday, reaching $289.25. The stock had a trading volume of 3,779,323 shares, compared to its average volume of 4,221,319. International Business Machines Corporation has a 52-week low of $170.41 and a 52-week high of $291.65. The business's fifty day moving average is $257.71 and its 200 day moving average is $245.71. The firm has a market cap of $268.83 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 5.90 and a beta of 0.66. 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 announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.68 EPS. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.32%. 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 115.66%.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, International Business Machines presently has an average rating of "Hold" and a consensus target price of $253.75.

International Business Machines 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.