Portland Global Advisors LLC cut its position in International Business Machines Corporation (NYSE:IBM – Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,901 shares of the technology company’s stock after selling 1,768 shares during the quarter. International Business Machines comprises 1.1% of Portland Global Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Portland Global Advisors LLC’s holdings in International Business Machines were worth $10,634,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of International Business Machines by 424.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after buying an additional 211,040 shares during the last quarter. GLOBALT Investments LLC GA increased its holdings in shares of International Business Machines by 19.1% in the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock worth $5,417,000 after buying an additional 2,930 shares during the last quarter. Waverton Investment Management Ltd increased its holdings in shares of International Business Machines by 3.3% in the 3rd quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company’s stock worth $280,439,000 after buying an additional 32,072 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of International Business Machines by 30.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock worth $3,887,000 after buying an additional 3,029 shares during the last quarter. Finally, NEOS Investment Management LLC increased its holdings in shares of International Business Machines by 51.7% in the 3rd quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company’s stock worth $32,278,000 after buying an additional 38,973 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently commented on IBM. BMO Capital Markets decreased 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 report on Thursday, April 23rd. Oppenheimer decreased 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 report on Thursday, April 16th. Royal Bank Of Canada reissued an “outperform” rating on shares of International Business Machines in a report on Thursday. Morgan Stanley upped their price objective on shares of International Business Machines from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Finally, DZ Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective for the company in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $294.41.
International Business Machines Price Performance
Shares of International Business Machines stock opened at $298.26 on Friday. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $324.90. The stock has a market capitalization of $280.33 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 3.08 and a beta of 0.58. The company has a fifty day moving average of $240.16 and a 200-day moving average of $270.98. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts expect that International Business Machines Corporation will post 12.4 EPS for the current 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 $1.69 dividend. 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 2.3%. International Business Machines’s dividend payout ratio is currently 59.77%.
Trending Headlines about International Business Machines
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
About International Business Machines
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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