Meritage Portfolio Management Reduces Holdings in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

Meritage Portfolio Management lowered its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,722 shares of the technology company’s stock after selling 554 shares during the quarter. Meritage Portfolio Management’s holdings in International Business Machines were worth $7,888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors increased its position in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp raised its holdings in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock valued at $1,783,281,000 after buying an additional 722,582 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.2%

International Business Machines stock opened at $287.79 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company has a fifty day simple moving average of $265.93 and a 200 day simple moving average of $248.79. The company has a market cap of $267.47 billion, a P/E ratio of 49.53, a price-to-earnings-growth ratio of 6.11 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $173.95 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating 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 firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period last year, the company earned $1.68 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

Analysts Set New Price Targets

Several research firms recently issued reports on IBM. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. The Goldman Sachs Group upped their target price on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Bank of America lifted their price target on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Finally, Morgan Stanley reduced their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $257.50.

Get Our Latest Stock Analysis on International Business Machines

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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