Norden Group LLC Trims Stock Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Norden Group LLC reduced its holdings in International Business Machines (IBM) by 22.1%, owning 7,569 shares worth approximately $1.88 million after selling 2,142 shares.
• IBM reported quarterly earnings of $2.80 per share, exceeding estimates, and has projected earnings of $10.78 per share for the current year.
• The company recently announced a dividend increase to $1.68 per share, yielding 2.59%, despite a payout ratio of 109.09%.

Norden Group LLC lessened its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 22.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,569 shares of the technology company's stock after selling 2,142 shares during the quarter. Norden Group LLC's holdings in International Business Machines were worth $1,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors raised its position 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 valued at $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Northern Trust Corp raised its position in International Business Machines by 18.6% in 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 during the period. Castlekeep Investment Advisors LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $302,564,000. Finally, First Trust Advisors LP grew its holdings in shares of International Business Machines by 26.4% in the fourth quarter. First Trust Advisors LP now owns 4,023,989 shares of the technology company's stock worth $884,593,000 after purchasing an additional 840,064 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. UBS Group increased their target price on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Royal Bank Of Canada lifted their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Stock Down 1.7%

NYSE:IBM traded down $4.49 during midday trading on Thursday, reaching $255.77. 2,458,612 shares of the stock traded hands, compared to its average volume of 4,620,150. The business has a 50-day moving average of $277.48 and a two-hundred day moving average of $256.64. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The stock has a market capitalization of $237.71 billion, a PE ratio of 41.45, a price-to-earnings-growth ratio of 4.05 and a beta of 0.69.

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, beating analysts' consensus estimates of $2.65 by $0.15. The company had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.43 earnings per share. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

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.