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TCW Group Inc. Cuts Stock Position in International Business Machines Corporation (NYSE:IBM)

International Business Machines logo with Computer and Technology background

Key Points

  • TCW Group Inc. reduced its stake in IBM by 8.3%, leaving it with 628,612 shares, which constitutes 1.4% of its portfolio.
  • Several analysts updated their price targets for IBM, with Stifel Nicolaus and Goldman Sachs increasing their targets to $310.00 and assigning a "buy" rating.
  • IBM declared a quarterly dividend of $1.68, reflecting a 2.59% yield, an increase from its previous dividend of $1.67.
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TCW Group Inc. trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 628,612 shares of the technology company's stock after selling 56,775 shares during the period. International Business Machines comprises 1.4% of TCW Group Inc.'s holdings, making the stock its 16th largest position. TCW Group Inc. owned approximately 0.07% of International Business Machines worth $156,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MinichMacGregor Wealth Management LLC acquired a new stake in International Business Machines in the first quarter valued at approximately $396,000. Treasurer of the State of North Carolina grew its holdings in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after purchasing an additional 4,131 shares during the period. Left Brain Wealth Management LLC grew its holdings in International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after purchasing an additional 16,592 shares during the period. Alpha Cubed Investments LLC grew its holdings in International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after purchasing an additional 2,399 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock valued at $15,434,000 after purchasing an additional 3,276 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.3%

NYSE:IBM traded down $0.81 on Friday, reaching $259.70. The company's stock had a trading volume of 7,751,998 shares, compared to its average volume of 4,613,670. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a market cap of $241.36 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 4.01 and a beta of 0.69. The stock has a 50 day moving average price of $277.69 and a 200 day moving average price of $256.27.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 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 the consensus estimate of $16.58 billion. During the same quarter in the previous year, the business earned $2.43 earnings per share. The company's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America lowered their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Finally, UBS Group lifted their price target on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $268.75.

View Our Latest Report on International Business Machines

About International Business Machines

(Free Report)

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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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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