ProShare Advisors LLC Reduces Holdings in International Business Machines Corporation $IBM

ProShare Advisors LLC trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 903,301 shares of the technology company’s stock after selling 60,945 shares during the period. ProShare Advisors LLC’s holdings in International Business Machines were worth $267,567,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after acquiring an additional 1,439,824 shares during the last quarter. Capital World Investors boosted its holdings in shares of International Business Machines by 13.9% in the 3rd quarter. Capital World Investors now owns 17,045,156 shares of the technology company’s stock valued at $4,809,461,000 after purchasing an additional 2,077,506 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of International Business Machines by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 7,302,722 shares of the technology company’s stock valued at $2,060,536,000 after purchasing an additional 176,219 shares during the last quarter. Amundi boosted its holdings in shares of International Business Machines by 17.9% in the 3rd quarter. Amundi now owns 4,777,516 shares of the technology company’s stock valued at $1,382,695,000 after purchasing an additional 725,191 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of International Business Machines by 2.2% in the 3rd quarter. Invesco Ltd. now owns 3,921,228 shares of the technology company’s stock valued at $1,106,414,000 after purchasing an additional 86,123 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other International Business Machines news, Director Michael Miebach bought 434 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average price of $233.33 per share, with a total value of $101,265.22. Following the purchase, the director owned 434 shares in the company, valued at approximately $101,265.22. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Citigroup initiated coverage on shares of International Business Machines in a report on Friday, April 10th. They issued a “buy” rating and a $285.00 price target on the stock. Dbs Bank upgraded shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. Jefferies Financial Group decreased their price target on shares of International Business Machines from $370.00 to $320.00 and set a “buy” rating on the stock in a report on Monday, April 20th. HSBC upgraded shares of International Business Machines from a “reduce” rating to a “hold” rating and lifted their price target for the company from $218.00 to $231.00 in a report on Tuesday, April 28th. Finally, Argus set a $360.00 price target on shares of International Business Machines in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and a consensus price target of $294.41.

International Business Machines Stock Performance

Shares of IBM stock opened at $222.84 on Tuesday. The company’s fifty day simple moving average is $239.81 and its 200-day simple moving average is $274.15. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $324.90. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The company has a market cap of $209.45 billion, a PE ratio of 19.70, a P/E/G ratio of 2.27 and a beta of 0.58.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter last year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be paid a $1.69 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s payout ratio is 59.77%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.