Jennison Associates LLC Lowers Stock Position in International Business Machines Corporation (NYSE:IBM)

Jennison Associates LLC decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 6.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 466,565 shares of the technology company's stock after selling 33,507 shares during the period. Jennison Associates LLC owned 0.05% of International Business Machines worth $116,016,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new position in International Business Machines during the 1st quarter valued at about $27,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines in the 1st quarter valued at about $45,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Park Place Capital Corp boosted its holdings in shares of International Business Machines by 42.6% in the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after buying an additional 58 shares in the last quarter. Finally, Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IBM shares. Royal Bank Of Canada raised their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday. Stifel Nicolaus boosted their target price 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. Morgan Stanley dropped their target price 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. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and a consensus price target of $266.19.

International Business Machines Price Performance

NYSE:IBM traded up $4.04 during trading hours on Friday, reaching $286.04. 4,465,031 shares of the company were exchanged, compared to its average volume of 4,232,093. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock's 50-day moving average is $276.39 and its 200-day moving average is $254.02. The firm has a market cap of $265.85 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $181.81 and a twelve 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 (EPS) for the quarter, topping 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 analyst estimates of $14.41 billion. During the same quarter in the prior year, the firm earned $1.68 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side 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. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.35%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

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.