Todd Asset Management LLC Sells 32,719 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Todd Asset Management LLC has reduced its stake in IBM by 13.8%, selling 32,719 shares, leaving them with a total of 204,061 shares.
• IBM's stock is currently valued at $241.88 with a market capitalization of $224.80 billion, and has seen a 12-month price range from $189.00 to $296.16.
• The company reported $2.80 EPS for the latest quarter, surpassing analysts' expectations, with a revenue increase of 7.7% year over year.

Todd Asset Management LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,061 shares of the technology company's stock after selling 32,719 shares during the period. International Business Machines makes up 1.2% of Todd Asset Management LLC's portfolio, making the stock its 22nd biggest position. Todd Asset Management LLC's holdings in International Business Machines were worth $50,742,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IBM. Vanguard Group Inc. boosted its position in International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares during the last quarter. Capital World Investors boosted its position in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. Northern Trust Corp raised its stake in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock worth $1,783,281,000 after buying an additional 722,582 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of International Business Machines by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock worth $1,282,550,000 after buying an additional 889,008 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE:IBM traded down $1.89 during trading hours on Tuesday, reaching $234.41. The stock had a trading volume of 8,749,624 shares, compared to its average volume of 6,354,524. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 52 week low of $189.21 and a 52 week high of $296.16. The company has a 50 day moving average price of $274.96 and a two-hundred day moving average price of $258.39. The stock has a market capitalization of $217.86 billion, a PE ratio of 38.05, a PEG ratio of 3.65 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the company posted $2.43 EPS. The company's revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group raised their price objective on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Bank of America decreased their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

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.