TD Asset Management Inc Sells 4,608 Shares of International Business Machines Corporation (NYSE:IBM)

TD Asset Management Inc trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 646,470 shares of the technology company’s stock after selling 4,608 shares during the period. TD Asset Management Inc owned 0.07% of International Business Machines worth $160,751,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wealth Dimensions Group Ltd. raised its stake in shares of International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC raised its position in shares of International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after acquiring an additional 42 shares during the period. DMC Group LLC raised its position in shares of International Business Machines by 1.2% in the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock valued at $875,000 after acquiring an additional 42 shares during the period. Titleist Asset Management LLC raised its position in shares of International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after acquiring an additional 43 shares during the period. Finally, Range Financial Group LLC raised its position in shares of International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock valued at $1,828,000 after acquiring an additional 43 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

NYSE IBM opened at $259.70 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a market capitalization of $241.36 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 5.50 and a beta of 0.69. The firm’s 50 day moving average is $277.69 and its 200-day moving average is $256.04.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the company earned $2.43 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.59%. International Business Machines’s dividend payout ratio (DPR) is 109.09%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Royal Bank Of Canada increased their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. The Goldman Sachs Group increased their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $268.75.

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.