IMS Capital Management Reduces Holdings in International Business Machines Co. (NYSE:IBM)

IMS Capital Management lessened its holdings in International Business Machines Co. (NYSE:IBM) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067 shares of the technology company’s stock after selling 123 shares during the period. IMS Capital Management’s holdings in International Business Machines were worth $185,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Legal & General Group Plc increased its position in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. raised its stake in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

International Business Machines stock opened at $221.07 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a 50 day moving average of $200.91 and a 200-day moving average of $185.34. The stock has a market cap of $203.08 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $224.15.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the firm earned $2.18 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.02%. International Business Machines’s payout ratio is 75.65%.

Analysts Set New Price Targets

A number of brokerages have recently commented on IBM. Jefferies Financial Group lifted their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets increased 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 lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $191.93.

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.