Alpha Cubed Investments LLC Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Alpha Cubed Investments LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 23.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,730 shares of the technology company’s stock after selling 826 shares during the period. Alpha Cubed Investments LLC’s holdings in International Business Machines were worth $446,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after purchasing an additional 2,636,386 shares during the period. Morgan Stanley raised its position in International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after acquiring an additional 1,919,490 shares during the period. California Public Employees Retirement System raised its position in International Business Machines by 15.9% during the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after acquiring an additional 871,247 shares during the period. Bank of New York Mellon Corp raised its position in International Business Machines by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after acquiring an additional 807,357 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of International Business Machines by 4.2% in the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after buying an additional 404,948 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IBM shares. Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Jefferies Financial Group lowered their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. UBS Group boosted their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Societe Generale reiterated a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a report on Friday, January 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $184.08.

International Business Machines Trading Up 0.1 %

Shares of NYSE:IBM opened at $166.41 on Wednesday. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. The company’s 50 day moving average is $186.85 and its two-hundred day moving average is $170.91. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company has a market cap of $152.55 billion, a PE ratio of 18.82, a P/E/G ratio of 4.10 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.08. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 9.98 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 4.01%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.20%.

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.