Stonegate Investment Group LLC Decreases Stake in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

Stonegate Investment Group LLC decreased its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,135 shares of the technology company’s stock after selling 383 shares during the quarter. Stonegate Investment Group LLC’s holdings in International Business Machines were worth $3,515,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its holdings in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. Norges Bank acquired a new stake in shares of International Business Machines during the 4th quarter valued at approximately $1,236,176,000. GAMMA Investing LLC boosted its stake in shares of International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines in the 4th quarter worth approximately $592,746,000. Finally, Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $280.67 on Friday. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $286.91. The company’s 50 day simple moving average is $257.71 and its 200 day simple moving average is $245.55. The stock has a market capitalization of $260.85 billion, a PE ratio of 48.31, a P/E/G ratio of 5.95 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the firm posted $1.68 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Analyst Ratings Changes

A number of research firms have commented on IBM. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. UBS Group restated a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $253.75.

View Our Latest Stock Analysis on IBM

International Business Machines Profile

(Free Report)

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.

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