Investment Management Corp of Ontario Reduces Stock Position in International Business Machines Corporation $IBM

by · The Markets Daily

Investment Management Corp of Ontario trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 35.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,740 shares of the technology company’s stock after selling 15,848 shares during the quarter. Investment Management Corp of Ontario’s holdings in International Business Machines were worth $8,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the last quarter. State Street Corp raised its holdings in International Business Machines by 0.3% during the 2nd quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock valued at $16,076,406,000 after buying an additional 147,721 shares during the period. Geode Capital Management LLC lifted its position in International Business Machines by 1.9% in the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock worth $6,444,527,000 after buying an additional 400,131 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in International Business Machines by 6.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after buying an additional 524,633 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in International Business Machines by 3.4% during the second quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock worth $2,100,751,000 after buying an additional 234,318 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets raised their price objective on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Jefferies Financial Group upped their target price on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Finally, Stifel Nicolaus set a $325.00 price target on International Business Machines in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and a consensus target price of $293.38.

View Our Latest Stock Analysis on IBM

International Business Machines Price Performance

NYSE IBM opened at $309.26 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The firm’s 50 day moving average price is $297.50 and its 200-day moving average price is $276.90. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The company has a market cap of $289.07 billion, a PE ratio of 36.99, a P/E/G ratio of 3.07 and a beta of 0.69.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. International Business Machines’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.30 earnings per share. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s dividend payout ratio is 80.38%.

About International Business Machines

(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.

Further Reading

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