International Business Machines Corporation (NYSE:IBM) Stake Reduced by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 19.5% 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 123,693 shares of the technology company's stock after selling 29,889 shares during the period. Oppenheimer Asset Management Inc.'s holdings in International Business Machines were worth $30,758,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JBR Co Financial Management Inc grew its stake in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after purchasing an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its holdings in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after buying an additional 42 shares during the last quarter. Schechter Investment Advisors LLC grew its position in shares of International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after acquiring an additional 43 shares in the last quarter. Finally, Titleist Asset Management LLC increased its holdings in shares of International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBM. 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. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, UBS Group restated a "sell" rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $253.75.

International Business Machines Price Performance

IBM stock traded up $8.28 during trading on Monday, hitting $289.25. The company had a trading volume of 3,778,250 shares, compared to its average volume of 4,221,290. The business has a 50 day moving average of $257.71 and a 200 day moving average of $245.71. The firm has a market capitalization of $268.83 billion, a price-to-earnings ratio of 49.78, a P/E/G ratio of 5.90 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a fifty-two week low of $170.41 and a fifty-two week high of $289.55.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results 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 company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. International Business Machines's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 EPS. As a group, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.32%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

About International Business Machines

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.