Edgestream Partners L.P. Sells 3,921 Shares of International Business Machines Co. (NYSE:IBM)

Edgestream Partners L.P. decreased its holdings in International Business Machines Co. (NYSE:IBM) by 43.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,206 shares of the technology company’s stock after selling 3,921 shares during the quarter. Edgestream Partners L.P.’s holdings in International Business Machines were worth $900,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its stake in 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 valued at $38,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $217.70 on Friday. The stock has a market capitalization of $199.98 billion, a PE ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70. The business’s 50 day simple moving average is $196.52 and its 200 day simple moving average is $184.33. 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.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 for 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 company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. As a group, research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s payout ratio is 75.65%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada lifted their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Three 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, the stock has a consensus rating of “Hold” and an average target price of $188.60.

International Business Machines Company 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.