Sterling Capital Management LLC Decreases Stock Holdings in International Business Machines Corporation $IBM

Sterling Capital Management LLC lessened its holdings in International Business Machines Corporation (NYSE:IBM) by 94.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,803 shares of the technology company’s stock after selling 31,886 shares during the period. Sterling Capital Management LLC’s holdings in International Business Machines were worth $437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Family CFO Inc purchased a new stake in shares of International Business Machines in the fourth quarter valued at $25,000. Basepoint Wealth LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $25,000. Joseph Group Capital Management bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $28,000. Cornerstone Financial Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth approximately $28,000. Finally, SWAN Capital LLC bought a new stake in shares of International Business Machines during the 3rd quarter worth approximately $28,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

IBM stock opened at $288.95 on Friday. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46. The business has a 50-day moving average price of $256.99 and a 200 day moving average price of $266.36. The company has a market capitalization of $271.58 billion, a P/E ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76.

International Business Machines (NYSE:IBM) last issued 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. The company had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. As a group, equities research analysts forecast 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 was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, May 8th. International Business Machines’s payout ratio is 59.77%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley upgraded International Business Machines from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of International Business Machines in a report on Tuesday, June 23rd. Jefferies Financial Group initiated coverage on shares of International Business Machines in a research note on Tuesday, June 23rd. They issued a “buy” rating on the stock. 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 for the company in a research note on Thursday, April 23rd. Finally, Wolfe Research downgraded shares of International Business Machines to a “peer perform” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and an average price target of $306.76.

International Business Machines 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.