Essex LLC Has $2.43 Million Holdings in International Business Machines Corporation (NYSE:IBM)

Essex LLC decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,788 shares of the technology company's stock after selling 1,935 shares during the quarter. Essex LLC's holdings in International Business Machines were worth $2,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IBM. Vanguard Group Inc. grew its holdings in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares during the period. Geode Capital Management LLC lifted its stake in shares of International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors boosted its position in shares of 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 purchasing an additional 9,650,534 shares during the last quarter. Northern Trust Corp grew its stake in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after purchasing an additional 722,582 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

NYSE IBM opened at $289.69 on Monday. The firm's 50 day moving average is $262.93 and its 200-day moving average is $247.77. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $269.24 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 6.08 and a beta of 0.66. International Business Machines Corporation has a 12-month low of $173.38 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results 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 business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year. Equities 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 business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Analysts Set New Price Targets

IBM has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their target price on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Morgan Stanley reduced their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Business Machines has an average rating of "Hold" and an average price target of $253.75.

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.

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