Cascade Investment Group Inc. Has $1.03 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Cascade Investment Group Inc. lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,980 shares of the technology company’s stock after selling 561 shares during the quarter. Cascade Investment Group Inc.’s holdings in International Business Machines were worth $1,034,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IBM. Norges Bank bought a new position in International Business Machines during the fourth quarter worth $1,019,009,000. Vanguard Group Inc. raised its position in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Capital Wealth Planning LLC bought a new position in International Business Machines in the 4th quarter worth about $172,887,000. Finally, National Bank of Canada FI boosted its position in shares of International Business Machines by 79.4% during the 1st quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after acquiring an additional 408,230 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their target price on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Morgan Stanley cut their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. UBS Group raised their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. BNP Paribas assumed coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $184.93.

International Business Machines Trading Up 0.7 %

IBM traded up $1.33 during trading on Wednesday, hitting $192.32. The company’s stock had a trading volume of 1,893,598 shares, compared to its average volume of 4,368,021. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $199.18. The firm’s 50 day moving average price is $179.64 and its 200-day moving average price is $180.86. The stock has a market cap of $176.67 billion, a PE ratio of 21.68, a PEG ratio of 4.24 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. On average, analysts expect that International Business Machines Co. will post 10.06 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.47%. International Business Machines’s dividend payout ratio is currently 75.65%.

International Business Machines Company 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.