International Business Machines Co. (NYSE:IBM) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in shares of International Business Machines Co. (NYSE:IBMFree Report) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 31,842 shares of the technology company’s stock after selling 728 shares during the quarter. King Luther Capital Management Corp’s holdings in International Business Machines were worth $5,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in IBM. WealthPlan Investment Management LLC lifted its stake in shares of International Business Machines by 220,760.0% in the 3rd quarter. WealthPlan Investment Management LLC now owns 44,172 shares of the technology company’s stock valued at $6,197,000 after purchasing an additional 44,152 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of International Business Machines by 210.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,673 shares of the technology company’s stock valued at $936,000 after purchasing an additional 4,526 shares during the period. Corient Private Wealth LLC raised its position in International Business Machines by 4.0% during the third quarter. Corient Private Wealth LLC now owns 375,461 shares of the technology company’s stock worth $52,680,000 after acquiring an additional 14,271 shares during the period. Signaturefd LLC raised its position in International Business Machines by 18.4% during the third quarter. Signaturefd LLC now owns 19,247 shares of the technology company’s stock worth $2,700,000 after acquiring an additional 2,991 shares during the period. Finally, Strategic Wealth Investment Group LLC raised its position in International Business Machines by 12.1% during the third quarter. Strategic Wealth Investment Group LLC now owns 33,831 shares of the technology company’s stock worth $4,747,000 after acquiring an additional 3,653 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. BMO Capital Markets dropped their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a report on Wednesday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $181.29.

Get Our Latest Stock Analysis on International Business Machines

International Business Machines Trading Down 0.0 %

IBM stock traded down $0.01 during mid-day trading on Thursday, hitting $173.68. 430,986 shares of the company were exchanged, compared to its average volume of 4,743,699. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $159.54 billion, a P/E ratio of 19.67, a PEG ratio of 4.27 and a beta of 0.74. The business has a fifty day simple moving average of $179.98 and a 200-day simple moving average of $173.73. International Business Machines Co. has a 12-month low of $125.01 and a 12-month high of $199.18.

International Business Machines (NYSE:IBMGet Free Report) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during 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%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 earnings per share. On average, equities research analysts predict that International Business Machines Co. will post 9.91 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

International Business Machines Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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