International Business Machines Co. (NYSE:IBM) is Meyer Handelman Co.’s 6th Largest Position

Meyer Handelman Co. cut its stake in International Business Machines Co. (NYSE:IBM) by 5.2% during the 4th quarter, HoldingsChannel reports. The fund owned 331,857 shares of the technology company’s stock after selling 18,325 shares during the period. International Business Machines comprises 2.1% of Meyer Handelman Co.’s portfolio, making the stock its 6th largest position. Meyer Handelman Co.’s holdings in International Business Machines were worth $54,275,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in International Business Machines by 0.4% in the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after acquiring an additional 365,388 shares in the last quarter. BlackRock Inc. raised its holdings in shares of International Business Machines by 3.5% during the second quarter. BlackRock Inc. now owns 74,044,855 shares of the technology company’s stock worth $9,907,942,000 after purchasing an additional 2,483,682 shares during the period. State Street Corp raised its holdings in shares of International Business Machines by 1.7% during the second quarter. State Street Corp now owns 54,441,615 shares of the technology company’s stock worth $7,284,833,000 after purchasing an additional 903,042 shares during the period. Morgan Stanley raised its holdings in shares of International Business Machines by 22.8% during the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after purchasing an additional 3,084,458 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of International Business Machines by 7.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after acquiring an additional 1,105,170 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.1 %

Shares of IBM traded down $2.05 during midday trading on Monday, hitting $188.79. The stock had a trading volume of 3,701,795 shares, compared to its average volume of 5,290,868. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The business has a 50-day simple moving average of $185.41 and a two-hundred day simple moving average of $163.41. The firm has a market cap of $173.07 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 3.74 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. The business had revenue of $17.38 billion during the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.60 earnings per share. As a group, equities analysts forecast that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 81.67%.

Analyst Ratings Changes

IBM has been the topic of a number of analyst reports. Societe Generale reaffirmed a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. BMO Capital Markets increased their target price on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus increased their target price on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $176.85.

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.