Canada Pension Plan Investment Board Sells 55,847 Shares of International Business Machines Co. (NYSE:IBM)

Canada Pension Plan Investment Board lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 19.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,654 shares of the technology company’s stock after selling 55,847 shares during the quarter. Canada Pension Plan Investment Board’s holdings in International Business Machines were worth $39,027,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mosley Wealth Management bought a new position in International Business Machines during the fourth quarter worth about $312,000. Hodges Capital Management Inc. boosted its position in shares of International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY boosted its position in shares of International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after acquiring an additional 250 shares during the period. 1832 Asset Management L.P. bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $3,017,000. Finally, Westwood Holdings Group Inc. boosted its position in shares of International Business Machines by 19.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock valued at $18,861,000 after acquiring an additional 19,175 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets raised their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $188.60.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $217.70 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a one year low of $135.87 and a one year high of $218.84. The business’s 50 day simple moving average is $196.52 and its two-hundred day simple moving average is $184.33. The stock has a market capitalization of $199.98 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 EPS. Analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

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

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.