Longbow Finance SA Sells 4,558 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Longbow Finance SA reduced its stake in International Business Machines Corporation (IBM) by 17.7% to own 21,227 shares worth $5.28 million at the end of the 1st quarter.
• IBM's recent quarterly earnings report showed EPS of $2.80, exceeding estimates, with revenue growing 7.7% year-over-year to $16.98 billion.
• The company increased its quarterly dividend to $1.68, representing a 2.58% dividend yield and a payout ratio of 115.66%.

Longbow Finance SA cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 17.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,227 shares of the technology company's stock after selling 4,558 shares during the period. Longbow Finance SA's holdings in International Business Machines were worth $5,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. Financial Engines Advisors L.L.C. boosted its position in shares of International Business Machines by 39.2% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 10,401 shares of the technology company's stock worth $2,286,000 after buying an additional 2,928 shares during the period. Tyler Stone Wealth Management boosted its position in shares of International Business Machines by 24.1% during the fourth quarter. Tyler Stone Wealth Management now owns 3,012 shares of the technology company's stock worth $662,000 after buying an additional 584 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of International Business Machines by 8.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,612,701 shares of the technology company's stock worth $359,068,000 after buying an additional 123,967 shares during the period. Finally, WINTON GROUP Ltd boosted its position in shares of International Business Machines by 0.4% during the fourth quarter. WINTON GROUP Ltd now owns 26,491 shares of the technology company's stock worth $5,824,000 after buying an additional 107 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Up 0.7%

IBM traded up $1.74 during trading hours on Monday, hitting $261.46. 2,662,866 shares of the company's stock were exchanged, compared to its average volume of 4,624,641. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The stock's 50-day moving average is $277.69 and its two-hundred day moving average is $256.27. The stock has a market cap of $243.00 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 4.01 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter last year, the company posted $2.43 EPS. International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid 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 dividend yield of 2.57%. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price objective 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 increased their price objective 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. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Stifel Nicolaus increased their price objective on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines 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.