Banque Pictet & Cie SA Sells 4,940 Shares of International Business Machines Corporation (NYSE:IBM)

Banque Pictet & Cie SA lessened its position in International Business Machines Corporation (NYSE:IBM) by 9.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,172 shares of the technology company’s stock after selling 4,940 shares during the period. Banque Pictet & Cie SA’s holdings in International Business Machines were worth $11,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IBM. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines during the 4th quarter worth $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines during the 4th quarter worth $43,000. Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines in the fourth quarter worth $43,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines in the first quarter worth $45,000. Finally, M & L Capital Management Ltd purchased a new stake in shares of International Business Machines in the fourth quarter worth $48,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.1%

IBM opened at $290.27 on Wednesday. International Business Machines Corporation has a one year low of $174.45 and a one year high of $296.16. The stock has a market capitalization of $269.78 billion, a PE ratio of 49.91, a P/E/G ratio of 6.14 and a beta of 0.69. The business’s 50 day moving average price is $270.51 and its 200 day moving average price is $250.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is currently 115.66%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Royal Bank Of Canada lifted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Finally, Bank of America lifted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.