Epoch Investment Partners Inc. Cuts Position in International Business Machines Co. (NYSE:IBM)

Epoch Investment Partners Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 893,262 shares of the technology company’s stock after selling 40,281 shares during the period. Epoch Investment Partners Inc. owned about 0.10% of International Business Machines worth $154,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of IBM. Frank Rimerman Advisors LLC boosted its holdings in International Business Machines by 5,244.8% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 22,074 shares of the technology company’s stock valued at $3,818,000 after acquiring an additional 21,661 shares during the period. Holderness Investments Co. lifted its position in shares of International Business Machines by 13.4% during the second quarter. Holderness Investments Co. now owns 27,203 shares of the technology company’s stock worth $4,705,000 after purchasing an additional 3,209 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of International Business Machines by 1.0% in the second quarter. ProShare Advisors LLC now owns 1,288,227 shares of the technology company’s stock valued at $222,799,000 after purchasing an additional 12,937 shares during the period. Profund Advisors LLC boosted its stake in shares of International Business Machines by 4.9% in the second quarter. Profund Advisors LLC now owns 22,699 shares of the technology company’s stock valued at $3,926,000 after purchasing an additional 1,065 shares during the period. Finally, Merriman Wealth Management LLC increased its stake in International Business Machines by 13.1% during the 2nd quarter. Merriman Wealth Management LLC now owns 1,991 shares of the technology company’s stock worth $344,000 after buying an additional 231 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on IBM shares. The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Jefferies Financial Group upped their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus lifted their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Price Performance

Shares of IBM opened at $217.70 on Friday. The firm has a fifty day moving average price of $196.52 and a 200 day moving average price of $184.33. The stock has a market cap of $199.98 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84. 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 (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion during 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 prior year, the firm earned $2.18 EPS. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

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

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.