International Business Machines Corporation (NYSE:IBM) Shares Sold by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,485 shares of the technology company’s stock after selling 1,249 shares during the period. International Business Machines accounts for approximately 1.7% of Richard C. Young & CO. LTD.’s portfolio, making the stock its 25th biggest holding. Richard C. Young & CO. LTD.’s holdings in International Business Machines were worth $16,035,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after acquiring an additional 427,499 shares during the last quarter. Capital World Investors lifted its position in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the period. Northern Trust Corp lifted its position in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after buying an additional 722,582 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IBM. Wedbush raised their target price on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Melius Research raised International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Stifel Nicolaus boosted their target price on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group reissued a “sell” rating and set a $195.00 price objective (up previously from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $263.06.

International Business Machines Stock Performance

IBM opened at $281.68 on Thursday. The firm has a market capitalization of $261.79 billion, a PE ratio of 48.48, a PEG ratio of 5.94 and a beta of 0.69. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The business’s 50-day simple moving average is $275.10 and its 200 day simple moving average is $253.14. 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 posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share 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 return on equity of 37.43% and a net margin of 8.71%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 EPS. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share 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 dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

International Business Machines 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.