Resona Asset Management Co. Ltd. Trims Stock Position in International Business Machines Corporation $IBM

Resona Asset Management Co. Ltd. cut its stake in International Business Machines Corporation (NYSE:IBM) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 316,106 shares of the technology company’s stock after selling 12,002 shares during the period. Resona Asset Management Co. Ltd.’s holdings in International Business Machines were worth $94,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of International Business Machines by 424.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock valued at $77,234,000 after buying an additional 211,040 shares during the last quarter. GLOBALT Investments LLC GA raised its holdings in shares of International Business Machines by 19.1% in the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock valued at $5,417,000 after buying an additional 2,930 shares during the last quarter. Waverton Investment Management Ltd raised its holdings in shares of International Business Machines by 3.3% in the third quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company’s stock valued at $280,439,000 after buying an additional 32,072 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of International Business Machines by 30.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock valued at $3,887,000 after buying an additional 3,029 shares during the last quarter. Finally, NEOS Investment Management LLC raised its holdings in shares of International Business Machines by 51.7% in the third quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company’s stock valued at $32,278,000 after buying an additional 38,973 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.6%

NYSE IBM opened at $222.84 on Tuesday. The stock has a market capitalization of $209.45 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.27 and a beta of 0.58. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $324.90. The firm has a 50-day moving average price of $239.81 and a 200 day moving average price of $274.15. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 earnings per share. Equities research analysts expect that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be given a dividend of $1.69 per share. The ex-dividend date is Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 3.0%. International Business Machines’s dividend payout ratio (DPR) is currently 59.77%.

Insiders Place Their Bets

In related news, Director Michael Miebach bought 434 shares of the stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the transaction, the director owned 434 shares of the company’s stock, valued at $101,265.22. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. DZ Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 target price for the company in a report on Friday, April 24th. Morgan Stanley increased their price target on shares of International Business Machines from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Dbs Bank raised shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. 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 assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $294.41.

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.