Cary Street Partners Asset Management LLC Has $2.06 Million Position in International Business Machines Co. (NYSE:IBM)

Cary Street Partners Asset Management LLC cut its position in shares of International Business Machines Co. (NYSE:IBM) by 5.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,604 shares of the technology company’s stock after selling 685 shares during the period. Cary Street Partners Asset Management LLC’s holdings in International Business Machines were worth $2,061,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vontobel Holding Ltd. grew its holdings in shares of International Business Machines by 20.3% during the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after buying an additional 80,474 shares in the last quarter. Natixis Advisors L.P. grew its stake in International Business Machines by 18.1% in the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock valued at $52,235,000 after purchasing an additional 57,170 shares in the last quarter. Herold Advisors Inc. grew its stake in International Business Machines by 3.2% in the third quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock valued at $3,070,000 after purchasing an additional 688 shares in the last quarter. Tsfg LLC grew its stake in International Business Machines by 40.5% in the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after purchasing an additional 109 shares in the last quarter. Finally, Auxano Advisors LLC grew its stake in International Business Machines by 4.8% in the fourth quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock valued at $556,000 after purchasing an additional 156 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.3 %

NYSE:IBM traded down $0.55 on Wednesday, hitting $165.65. The stock had a trading volume of 1,169,985 shares, compared to its average volume of 4,976,527. The business’s fifty day moving average is $186.85 and its 200 day moving average is $170.91. The company has a market cap of $151.86 billion, a PE ratio of 18.76, a P/E/G ratio of 4.10 and a beta of 0.70. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, equities research analysts expect that International Business Machines Co. will post 9.98 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price target on shares of International Business Machines in a report on Wednesday, April 17th. UBS Group lifted their price target on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Bank of America lifted their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, Royal Bank of Canada upped their target price on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $184.08.

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.