Fideuram Intesa Sanpaolo Private Banking S.P.A. Lowers Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Fideuram Intesa Sanpaolo Private Banking reduced its IBM stake by 59.4% in the first quarter, selling 4,980 shares and leaving it with 3,407 shares worth about $826,000.
• Other big institutional investors remain heavily involved in IBM, with hedge funds and institutions owning 58.96% of the company’s stock. Notable holders such as Vanguard, Capital World Investors, and Price T Rowe all increased their positions.
• IBM continues to show solid fundamentals: it beat quarterly earnings and revenue estimates, and it raised its dividend to $1.69 per share. Analysts currently have a consensus rating of Moderate Buy with an average target price of $306.76.

Fideuram Intesa Sanpaolo Private Banking S.P.A. cut its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 59.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,407 shares of the technology company's stock after selling 4,980 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in International Business Machines were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in International Business Machines during the 4th quarter valued at about $2,446,429,000. Capital World Investors grew its position in International Business Machines by 29.2% in the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock valued at $6,523,720,000 after acquiring an additional 4,976,756 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in International Business Machines by 83.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company's stock worth $1,663,847,000 after purchasing an additional 2,553,552 shares during the period. Corient Private Wealth LLC increased its stake in International Business Machines by 359.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company's stock worth $561,814,000 after purchasing an additional 1,484,026 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company's stock worth $28,796,390,000 after purchasing an additional 1,439,824 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Roth Mkm reissued a "buy" rating on shares of International Business Machines in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. raised shares of International Business Machines from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $270.00 to $291.00 in a research note on Tuesday, June 23rd. Weiss Ratings lowered shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 24th. Wall Street Zen raised shares of International Business Machines from a "sell" rating to a "hold" rating in a research report on Sunday, June 21st. Finally, Jefferies Financial Group assumed coverage on shares of International Business Machines in a research note on Tuesday, June 23rd. They issued a "buy" rating for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $306.76.

International Business Machines Price Performance

Shares of IBM opened at $288.95 on Friday. The firm has a market capitalization of $271.58 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68. The firm's fifty day simple moving average is $256.99 and its 200-day simple moving average is $266.36. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $332.46. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company's revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Equities analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a dividend of $1.69 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. International Business Machines's dividend payout ratio (DPR) is presently 59.77%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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