King Luther Capital Management Corp Sells 3,533 Shares of International Business Machines Co. (NYSE:IBM)

King Luther Capital Management Corp decreased its holdings in International Business Machines Co. (NYSE:IBM) by 11.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,154 shares of the technology company’s stock after selling 3,533 shares during the period. King Luther Capital Management Corp’s holdings in International Business Machines were worth $4,869,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the first quarter worth about $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $217.70 on Friday. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $218.84. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market capitalization of $199.98 billion, a P/E ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70. The stock has a 50 day moving average price of $196.52 and a 200 day moving average price of $184.33.

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

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently commented on IBM shares. Evercore ISI boosted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Jefferies Financial Group boosted their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. 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. Finally, Stifel Nicolaus boosted their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $188.60.

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.