International Business Machines Corporation (NYSE:IBM) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its holdings in International Business Machines Corporation by 22.2%, selling 20,082 shares and now holding 70,424 shares worth approximately $17.5 million.
• Several hedge funds increased their stakes in IBM, with notable increases from Brighton Jones LLC (12.4%), Pictet Asset Management (14.8%), and Orion Portfolio Solutions (10.0%) during the recent quarter.
• IBM recently declared a quarterly dividend of $1.68, representing an annualized dividend yield of 2.59%, an increase from the previous dividend of $1.67.

Pacer Advisors Inc. trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 22.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,424 shares of the technology company's stock after selling 20,082 shares during the period. Pacer Advisors Inc.'s holdings in International Business Machines were worth $17,512,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines during the 1st quarter valued at $27,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines during the 1st quarter valued at $45,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at $43,000. Park Place Capital Corp grew its stake in shares of International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after buying an additional 58 shares during the period. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines during the 4th quarter valued at $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $0.81 during trading on Friday, reaching $259.70. 7,751,998 shares of the company's stock traded hands, compared to its average volume of 4,613,670. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16. The company has a 50 day moving average of $277.69 and a 200-day moving average of $256.27. The stock has a market capitalization of $241.36 billion, a P/E ratio of 42.16, a price-to-earnings-growth ratio of 4.01 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 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts expect that International Business Machines Corporation will post 10.78 EPS 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 is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.59%. International Business Machines's dividend payout ratio is 109.09%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. Morgan Stanley reduced their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America reduced their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average 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.