International Business Machines Corporation (NYSE:IBM) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,875 shares of the technology company’s stock after selling 8,970 shares during the period. Calamos Advisors LLC’s holdings in International Business Machines were worth $40,003,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of IBM. Capital World Investors grew its stake in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank acquired a new position in International Business Machines in the fourth quarter worth about $1,236,176,000. GAMMA Investing LLC grew its stake in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. bought a new position in International Business Machines in the fourth quarter worth about $592,746,000. Finally, Northern Trust Corp lifted its holdings in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.4%

International Business Machines stock opened at $291.66 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a market cap of $271.06 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 6.04 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $173.95 and a 1 year high of $296.16. The firm’s 50 day moving average price is $267.18 and its two-hundred day moving average price is $249.22.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 earnings per share. On average, research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.30%. International Business Machines’s payout ratio is 115.66%.

Analysts Set New Price Targets

IBM has been the topic of a number of recent research reports. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Bank of America raised their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. UBS Group reissued a “sell” rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $257.50.

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.