International Business Machines Corporation (NYSE:IBM) Shares Sold by Mendel Money Management

Mendel Money Management decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 11.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,040 shares of the technology company's stock after selling 3,072 shares during the period. International Business Machines comprises approximately 2.8% of Mendel Money Management's investment portfolio, making the stock its 4th biggest holding. Mendel Money Management's holdings in International Business Machines were worth $5,978,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IBM. Capital World Investors grew its position 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 worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Norges Bank purchased a new stake in shares of International Business Machines during the fourth quarter worth about $1,236,176,000. GAMMA Investing LLC boosted 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 buying an additional 4,384,958 shares during the last quarter. Northern Trust Corp lifted its position in shares of International Business Machines by 18.6% in 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 acquiring an additional 1,704,209 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth approximately $302,564,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IBM shares. Stifel Nicolaus boosted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Finally, Bank of America cut their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Down 0.3%

IBM stock traded down $0.81 during midday trading on Friday, hitting $259.70. The company's stock had a trading volume of 7,751,998 shares, compared to its average volume of 4,403,863. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The firm has a 50-day simple moving average of $277.69 and a 200-day simple moving average of $256.04. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $241.36 billion, a P/E ratio of 42.16, a PEG ratio of 5.50 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter last year, the company earned $2.43 EPS. International Business Machines's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.59%. International Business Machines's dividend payout ratio is currently 109.09%.

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.