Kepler Cheuvreux Suisse SA Cuts Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Kepler Cheuvreux Suisse SA trimmed its IBM stake by 3.1% in the first quarter, selling 2,084 shares and leaving it with 65,998 shares valued at about $16.0 million.
• IBM continues to draw generally positive Wall Street sentiment, with analysts assigning a Moderate Buy consensus rating and an average price target of $306.76.
• The company recently beat quarterly expectations, posting $1.91 EPS on $15.92 billion in revenue, while also raising its quarterly dividend to $1.69 per share.

Kepler Cheuvreux Suisse SA decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,998 shares of the technology company's stock after selling 2,084 shares during the quarter. Kepler Cheuvreux Suisse SA's holdings in International Business Machines were worth $15,995,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Howe & Rusling Inc. boosted its stake in shares of International Business Machines by 23.5% in the 1st quarter. Howe & Rusling Inc. now owns 3,826 shares of the technology company's stock worth $928,000 after buying an additional 727 shares during the last quarter. Northstar Group Inc. increased its position in shares of International Business Machines by 7.4% during the first quarter. Northstar Group Inc. now owns 1,094 shares of the technology company's stock valued at $265,000 after acquiring an additional 75 shares during the last quarter. Revisor Wealth Management LLC lifted its holdings in International Business Machines by 3.2% during the first quarter. Revisor Wealth Management LLC now owns 3,595 shares of the technology company's stock worth $872,000 after acquiring an additional 113 shares during the period. Hudson Edge Investment Partners Inc. lifted its holdings in International Business Machines by 25.7% during the first quarter. Hudson Edge Investment Partners Inc. now owns 28,281 shares of the technology company's stock worth $6,855,000 after acquiring an additional 5,782 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in International Business Machines by 7.3% in the first quarter. Koshinski Asset Management Inc. now owns 5,591 shares of the technology company's stock worth $1,355,000 after purchasing an additional 379 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on International Business Machines in a research report on Tuesday, June 23rd. They set a "buy" rating for the company. Roth Mkm reissued a "buy" rating on shares of International Business Machines in a report on Wednesday, June 3rd. Wall Street Zen upgraded shares of International Business Machines from a "sell" rating to a "hold" rating in a research report on Sunday, June 21st. JPMorgan Chase & Co. upgraded shares of International Business Machines from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $270.00 to $291.00 in a report on Tuesday, June 23rd. Finally, KeyCorp lowered shares of International Business Machines to a "sector weight" rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $306.76.

International Business Machines Stock Down 0.2%

IBM stock opened at $288.95 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The company 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. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $332.46. The stock has a fifty day moving average of $256.99 and a 200-day moving average of $266.36.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.60 EPS. As a group, equities research analysts predict that International Business Machines Corporation will post 12.4 earnings per share for the current year.

International Business Machines Increases Dividend

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

International Business Machines Company Profile

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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