International Business Machines Co. (NYSE:IBM) Position Cut by Amalgamated Bank

Amalgamated Bank decreased its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,981 shares of the technology company's stock after selling 9,299 shares during the quarter. Amalgamated Bank's holdings in International Business Machines were worth $36,141,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IBM. Naples Money Management LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $28,000. Briaud Financial Planning Inc bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $31,000. Stone House Investment Management LLC raised its stake in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company's stock worth $32,000 after acquiring an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. raised its stake in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company's stock worth $32,000 after acquiring an additional 91 shares in the last quarter. Finally, Cordant Inc. raised its stake in shares of International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company's stock worth $42,000 after acquiring an additional 226 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

IBM stock traded up $0.30 during midday trading on Thursday, hitting $164.73. 3,826,681 shares of the stock traded hands, compared to its average volume of 4,997,550. The firm has a market cap of $151.01 billion, a P/E ratio of 18.66, a PEG ratio of 4.08 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The stock's fifty day simple moving average is $186.15 and its 200-day simple moving average is $170.82. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm's revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.36 earnings per share. On average, analysts expect that International Business Machines Co. will post 9.94 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 4.06%. This is an increase from International Business Machines's previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines's dividend payout ratio (DPR) is presently 75.20%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of International Business Machines from $186.00 to $179.00 and set an "equal weight" rating for the company in a research note on Friday, April 26th. JPMorgan Chase & Co. reduced their price objective on shares of International Business Machines from $190.00 to $185.00 and set a "neutral" rating for the company in a research note on Thursday, April 25th. StockNews.com lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday. Sanford C. Bernstein boosted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a "market perform" rating in a research note on Thursday, March 7th. Finally, BMO Capital Markets reduced their price objective on shares of International Business Machines from $210.00 to $190.00 and set a "market perform" rating for the company in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $181.29.

About International Business Machines

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.