Portland Global Advisors LLC Sells 1,768 Shares of International Business Machines Corporation $IBM

Key Points

• Portland Global Advisors cut its IBM stake by 4.7% in the fourth quarter, selling 1,768 shares and leaving it with 35,901 shares valued at about $10.6 million.
• IBM reported stronger-than-expected quarterly results, posting $1.91 EPS on revenue of $15.92 billion, both ahead of analyst estimates and up 9.5% from a year earlier.
• The company raised its quarterly dividend to $1.69 per share, and the article also highlights bullish long-term initiatives including a $10 billion quantum computing investment and a $5 billion open-source AI/security effort with Red Hat.

Portland Global Advisors LLC decreased its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,901 shares of the technology company's stock after selling 1,768 shares during the period. International Business Machines accounts for about 1.1% of Portland Global Advisors LLC's holdings, making the stock its 25th biggest position. Portland Global Advisors LLC's holdings in International Business Machines were worth $10,634,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in International Business Machines by 424.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company's stock worth $77,234,000 after acquiring an additional 211,040 shares during the period. GLOBALT Investments LLC GA raised its position in shares of International Business Machines by 19.1% in the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company's stock valued at $5,417,000 after purchasing an additional 2,930 shares during the period. Waverton Investment Management Ltd raised its position in shares of International Business Machines by 3.3% in the third quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company's stock valued at $280,439,000 after purchasing an additional 32,072 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of International Business Machines by 30.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company's stock valued at $3,887,000 after purchasing an additional 3,029 shares during the period. Finally, NEOS Investment Management LLC raised its position in shares of International Business Machines by 51.7% in the third quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company's stock valued at $32,278,000 after purchasing an additional 38,973 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE IBM opened at $298.26 on Friday. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $324.90. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The stock has a market capitalization of $280.33 billion, a PE ratio of 26.37, a P/E/G ratio of 3.08 and a beta of 0.58. The company's 50 day simple moving average is $240.16 and its two-hundred day simple moving average is $270.98.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. During the same period in the prior year, the company posted $1.60 EPS. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts predict that International Business Machines Corporation will post 12.4 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be paid a $1.69 dividend. The ex-dividend date is Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 2.3%. This is a boost from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's dividend payout ratio is currently 59.77%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings lowered shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Oppenheimer lowered their price target on shares of International Business Machines from $380.00 to $320.00 and set an "outperform" rating on the stock in a research report on Thursday, April 16th. JPMorgan Chase & Co. lowered their price target on shares of International Business Machines from $317.00 to $283.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 18th. Royal Bank Of Canada reissued an "outperform" rating on shares of International Business Machines in a research report on Thursday. Finally, BMO Capital Markets lowered their price target on shares of International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $294.41.

International Business Machines News Summary

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM unveiled a more than $10 billion quantum computing investment plan, reinforcing its leadership in an emerging high-growth market. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: IBM and Red Hat launched Project Lightwell, a $5 billion push to secure open-source software with AI tools and 20,000 engineers, which could strengthen its enterprise security franchise. IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era
• Positive Sentiment: Wedbush reiterated an Outperform rating and raised its target to $320, signaling continued analyst confidence in IBM’s upside. IBM Is Chasing A '$1 Trillion Value Creation Engine' — And It's Spending $15 Billion To Get There

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.