BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 158,432 Shares of International Business Machines Co. (NYSE:IBM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 19.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 644,425 shares of the technology company’s stock after selling 158,432 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.07% of International Business Machines worth $123,059,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IBM. Schneider Downs Wealth Management Advisors LP grew its holdings in International Business Machines by 4.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 1,614 shares of the technology company’s stock worth $308,000 after acquiring an additional 68 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter valued at approximately $26,000. Edmond DE Rothschild Holding S.A. increased its holdings in International Business Machines by 0.3% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 43,237 shares of the technology company’s stock valued at $8,257,000 after buying an additional 123 shares during the period. J.P. Marvel Investment Advisors LLC raised its stake in International Business Machines by 16.1% in the first quarter. J.P. Marvel Investment Advisors LLC now owns 23,055 shares of the technology company’s stock worth $4,403,000 after buying an additional 3,200 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in International Business Machines by 9.2% during the first quarter. Bleakley Financial Group LLC now owns 32,469 shares of the technology company’s stock worth $6,200,000 after buying an additional 2,727 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a report on Wednesday, May 22nd. BMO Capital Markets cut their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. UBS Group boosted their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Finally, Jefferies Financial Group cut their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines Stock Performance

NYSE:IBM traded up $1.65 during midday trading on Wednesday, hitting $187.46. The company’s stock had a trading volume of 4,224,558 shares, compared to its average volume of 4,432,313. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. International Business Machines Co. has a fifty-two week low of $134.29 and a fifty-two week high of $199.18. The firm’s 50 day moving average is $172.13 and its 200-day moving average is $178.00. The firm has a market cap of $172.20 billion, a P/E ratio of 21.23, a P/E/G ratio of 4.51 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter last year, the company posted $1.36 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.56%. International Business Machines’s dividend payout ratio is presently 75.65%.

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.