Milestone Asset Management LLC Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Milestone Asset Management LLC reduced its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 65.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,596 shares of the technology company's stock after selling 8,634 shares during the period. Milestone Asset Management LLC's holdings in International Business Machines were worth $1,143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. Vanguard Group Inc. grew its holdings in International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of International Business Machines by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after purchasing an additional 427,499 shares in the last quarter. Capital World Investors grew its holdings in shares of 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 in the last quarter. Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of International Business Machines by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock worth $1,783,281,000 after purchasing an additional 722,582 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Royal Bank of Canada boosted their price target on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, Wedbush reiterated an "outperform" rating and issued a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus price target of $249.06.

International Business Machines Stock Up 0.3%

International Business Machines stock traded up $0.92 during midday trading on Thursday, reaching $266.44. The stock had a trading volume of 1,126,707 shares, compared to its average volume of 4,204,150. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a fifty day moving average price of $247.45 and a two-hundred day moving average price of $240.98. The company has a market capitalization of $247.63 billion, a P/E ratio of 41.57, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 12 month low of $165.78 and a 12 month high of $269.28.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 EPS. As a group, equities analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

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.