one8zero8 LLC Sells 2,488 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• one8zero8 LLC reduced its stake in IBM by 32.7%, owning 5,119 shares worth $1.27 million after selling 2,488 shares in the first quarter.
• International Business Machines recently increased its quarterly dividend to $1.68, up from $1.67, representing an annualized dividend of $6.72 with a yield of 2.59%.
• IBM reported earnings of $2.80 per share for the last quarter, exceeding analysts' expectations, with revenues of $16.98 billion, which marks a 7.7% increase from the same quarter last year.

one8zero8 LLC cut its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 32.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,119 shares of the technology company's stock after selling 2,488 shares during the quarter. one8zero8 LLC's holdings in International Business Machines were worth $1,273,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IBM. Geode Capital Management LLC boosted its holdings in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after purchasing an additional 427,499 shares in the last quarter. Capital World Investors boosted its holdings in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp boosted its holdings in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of International Business Machines by 9.8% in the fourth 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 valued at $1,783,281,000 after acquiring an additional 722,582 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of International Business Machines by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,083,665 shares of the technology company's stock valued at $1,117,548,000 after acquiring an additional 99,510 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.3%

Shares of IBM traded down $0.81 during trading hours on Friday, reaching $259.70. The stock had a trading volume of 7,751,998 shares, compared to its average volume of 4,613,670. 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 Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. The firm has a 50-day moving average of $277.69 and a 200 day moving average of $256.27. The company has a market cap of $241.36 billion, a P/E ratio of 42.16, a P/E/G ratio of 4.01 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.43 EPS. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued 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 2.59%. International Business Machines's dividend payout ratio (DPR) is 109.09%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Company 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.