Sompo Asset Management Co. Ltd. Sells 430 Shares of International Business Machines Co. (NYSE:IBM)

Sompo Asset Management Co. Ltd. lowered its holdings in International Business Machines Co. (NYSE:IBM) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,222 shares of the technology company’s stock after selling 430 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in International Business Machines were worth $1,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Vanguard Group Inc. boosted its position in shares of International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans grew its position in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares during the period. Finally, National Bank of Canada FI raised its position in shares of International Business Machines by 79.4% in the first quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock worth $176,160,000 after buying an additional 408,230 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BMO Capital Markets boosted their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, UBS Group lifted their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Stock Performance

NYSE:IBM opened at $217.63 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $218.84. The stock has a market cap of $199.92 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The firm’s fifty day simple moving average is $196.52 and its 200 day simple moving average is $184.38.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.18 EPS. As a group, research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s dividend payout ratio is presently 75.65%.

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.