International Business Machines Corporation (NYSE:IBM) Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,631,029 shares of the technology company's stock after selling 162,864 shares during the quarter. Bank of New York Mellon Corp owned 0.82% of International Business Machines worth $1,897,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after buying an additional 1,539,888 shares in the last quarter. Geode Capital Management LLC grew its stake in International Business Machines by 2.1% during 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 acquiring an additional 427,499 shares in the last quarter. Capital World Investors grew its stake in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Northern Trust Corp grew its position in 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 valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in International Business Machines by 9.8% during 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 in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 1.4%

IBM stock opened at $291.66 on Friday. The company has a 50-day moving average of $268.36 and a two-hundred day moving average of $249.65. International Business Machines Corporation has a 52-week low of $173.95 and a 52-week high of $296.16. The stock has a market capitalization of $271.06 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 6.13 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 announced its earnings results 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. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The firm's revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. International Business Machines's dividend payout ratio is 115.66%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IBM shares. Bank of America boosted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Wedbush boosted their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Finally, The Goldman Sachs Group boosted their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $257.50.

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.

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