Osborne Partners Capital Management LLC Lowers Stock Position in International Business Machines Corporation (NYSE:IBM)

Osborne Partners Capital Management LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 24.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,446 shares of the technology company's stock after selling 1,100 shares during the period. Osborne Partners Capital Management LLC's holdings in International Business Machines were worth $857,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Capital World Investors boosted its stake in shares of 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 worth $2,634,577,000 after buying an additional 9,650,534 shares during the period. Norges Bank acquired a new stake in shares of International Business Machines during the fourth quarter worth about $1,236,176,000. GAMMA Investing LLC lifted its position in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. Raymond James Financial Inc. acquired a new stake in International Business Machines during the 4th quarter worth approximately $592,746,000. Finally, Northern Trust Corp lifted its position in 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 acquiring an additional 1,704,209 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM stock opened at $280.67 on Friday. The firm has a 50 day moving average of $257.71 and a 200-day moving average of $245.55. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $286.91. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company has a market cap of $260.85 billion, a price-to-earnings ratio of 48.31, a PEG ratio of 5.95 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.39%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 115.66%.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Royal Bank Of Canada raised their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $253.75.

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.

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