International Business Machines Co. (NYSE:IBM) Position Cut by Gabelli Funds LLC

Gabelli Funds LLC cut its position in International Business Machines Co. (NYSE:IBM) by 0.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,150 shares of the technology company’s stock after selling 135 shares during the quarter. Gabelli Funds LLC’s holdings in International Business Machines were worth $6,139,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vontobel Holding Ltd. raised its stake in shares of International Business Machines by 20.3% during the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after purchasing an additional 80,474 shares in the last quarter. Tsfg LLC boosted its stake in International Business Machines by 40.5% during the 4th quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after purchasing an additional 109 shares in the last quarter. Auxano Advisors LLC raised its stake in shares of International Business Machines by 4.8% in the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock worth $556,000 after buying an additional 156 shares in the last quarter. West Family Investments Inc. lifted its holdings in shares of International Business Machines by 7.6% in the fourth quarter. West Family Investments Inc. now owns 2,736 shares of the technology company’s stock valued at $447,000 after buying an additional 194 shares during the period. Finally, Mosley Wealth Management bought a new position in International Business Machines during the fourth quarter valued at about $312,000. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets lifted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday. Morgan Stanley cut their price objective 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. JPMorgan Chase & Co. cut their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, BNP Paribas assumed coverage on International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target 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 has an average rating of “Hold” and an average price target of $184.93.

International Business Machines Stock Down 0.1 %

Shares of International Business Machines stock traded down $0.23 during midday trading on Friday, reaching $191.75. 4,294,875 shares of the company’s stock traded hands, compared to its average volume of 3,459,853. The company has a market cap of $176.14 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 4.70 and a beta of 0.71. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $199.18. The company’s 50 day simple moving average is $174.75 and its 200 day simple moving average is $179.25. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.09 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts expect that International Business Machines Co. will post 9.98 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

International Business Machines 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.