ProShare Advisors LLC Cuts Stock Holdings in International Business Machines Corporation $IBM

Key Points

• ProShare Advisors LLC cut its IBM stake by 6.3% in the fourth quarter, selling 60,945 shares and leaving it with 903,301 shares valued at about $267.6 million.
• IBM beat quarterly earnings and revenue expectations, reporting $1.91 EPS on $15.92 billion in revenue, with revenue up 9.5% year over year.
• IBM increased its quarterly dividend to $1.69 per share, implying an annualized payout of $6.76 and a yield of about 3.0%.

ProShare Advisors LLC reduced its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 903,301 shares of the technology company's stock after selling 60,945 shares during the period. ProShare Advisors LLC owned approximately 0.10% of International Business Machines worth $267,567,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC raised its holdings in International Business Machines by 1.4% during the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock worth $708,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. raised its holdings in International Business Machines by 1.3% during the fourth quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock worth $742,000 after purchasing an additional 33 shares in the last quarter. New Covenant Trust Company N.A. raised its holdings in International Business Machines by 3.8% during the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock worth $264,000 after purchasing an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. raised its holdings in International Business Machines by 1.2% during the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock worth $798,000 after purchasing an additional 33 shares in the last quarter. Finally, CFS Investment Advisory Services LLC raised its holdings in International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company's stock worth $2,878,000 after purchasing an additional 34 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.6%

Shares of International Business Machines stock opened at $222.84 on Tuesday. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $324.90. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The stock has a market cap of $209.45 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58. The company has a 50-day moving average of $239.81 and a two-hundred day moving average of $274.15.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $15.60 billion. During the same period last year, the company posted $1.60 EPS. The company's revenue was up 9.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be paid a dividend of $1.69 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.0%. International Business Machines's dividend payout ratio is 59.77%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, Director Michael Miebach acquired 434 shares of the company's stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $233.33 per share, with a total value of $101,265.22. Following the purchase, the director directly owned 434 shares in the company, valued at approximately $101,265.22. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. DZ Bank raised shares of International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 price target for the company in a report on Friday, April 24th. Royal Bank Of Canada dropped their target price on shares of International Business Machines from $330.00 to $300.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. BMO Capital Markets dropped their target price on shares of International Business Machines from $290.00 to $270.00 and set a "market perform" rating for the company in a report on Thursday, April 23rd. Argus set a $360.00 target price on shares of International Business Machines in a report on Friday, January 30th. Finally, Oppenheimer dropped their target price on shares of International Business Machines from $380.00 to $320.00 and set an "outperform" rating for the company in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $294.41.

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.

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