Clearbridge Investments LLC Has $6.88 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Clearbridge Investments LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,779 shares of the technology company’s stock after selling 5,062 shares during the quarter. Clearbridge Investments LLC’s holdings in International Business Machines were worth $6,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth about $7,160,000. Mosley Wealth Management bought a new stake in International Business Machines in the fourth quarter valued at approximately $312,000. Hodges Capital Management Inc. raised its stake in 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 buying an additional 7,768 shares during the period. Burns J W & Co. Inc. NY lifted 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 buying an additional 250 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $3,017,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.5 %

IBM stock opened at $226.00 on Friday. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $226.08. The business has a 50-day simple moving average of $203.61 and a 200 day simple moving average of $186.23. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a market cap of $207.60 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IBM. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday. BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Royal Bank of Canada raised their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $194.35.

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.