Van Cleef Asset Management Inc Sells 100 Shares of International Business Machines Co. (NYSE:IBM)

Van Cleef Asset Management Inc cut its holdings in International Business Machines Co. (NYSE:IBM) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,792 shares of the technology company’s stock after selling 100 shares during the quarter. Van Cleef Asset Management Inc’s holdings in International Business Machines were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IBM. Norges Bank bought a new stake in International Business Machines in the fourth quarter valued at about $1,019,009,000. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of International Business Machines by 151.6% in 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 acquiring an additional 2,118,165 shares during the period. Capital Wealth Planning LLC bought a new position in International Business Machines during the 4th quarter worth approximately $172,887,000. Finally, Strategic Financial Concepts LLC grew its holdings in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after purchasing an additional 468,567 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $205.32 on Wednesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business has a 50-day moving average of $190.65 and a 200-day moving average of $182.80. The stock has a market capitalization of $189.13 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 4.47 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $205.95.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 EPS. As a group, sell-side analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.25%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group started 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 for the company. Jefferies Financial Group raised their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada upped their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $185.93.

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.