American Research & Management Co. Sells 3,563 Shares of International Business Machines Co. (NYSE:IBM)

American Research & Management Co. decreased its position in International Business Machines Co. (NYSE:IBM) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,817 shares of the technology company’s stock after selling 3,563 shares during the quarter. International Business Machines accounts for approximately 3.8% of American Research & Management Co.’s holdings, making the stock its largest holding. American Research & Management Co.’s holdings in International Business Machines were worth $15,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Wealth Alliance grew its holdings in shares of International Business Machines by 12.7% in the 3rd quarter. Wealth Alliance now owns 6,327 shares of the technology company’s stock valued at $770,000 after acquiring an additional 712 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in shares of International Business Machines in the 3rd quarter valued at about $1,073,000. OLD Mission Capital LLC bought a new position in shares of International Business Machines in the 3rd quarter valued at about $246,000. Lombard Odier Asset Management Switzerland SA bought a new position in shares of International Business Machines in the 3rd quarter valued at about $804,000. Finally, Te Ahumairangi Investment Management Ltd bought a new position in shares of International Business Machines in the 3rd quarter valued at about $8,393,000. 55.67% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Morgan Stanley lifted their price target on International Business Machines from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $139.77.

IBM stock traded down $0.24 during mid-day trading on Thursday, hitting $134.69. 90,935 shares of the company were exchanged, compared to its average volume of 6,569,584. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 2.58. International Business Machines Co. has a 1-year low of $105.92 and a 1-year high of $137.07. The business has a 50 day simple moving average of $126.88 and a 200-day simple moving average of $123.18. The stock has a market capitalization of $120.36 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 20th. The technology company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.28. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.59 billion. During the same period in the previous year, the business earned $4.71 earnings per share. Equities research analysts expect that International Business Machines Co. will post 8.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 10th were given a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, February 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.84%. International Business Machines’s payout ratio is 50.90%.

About International Business Machines

International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, supply chain, and asset management, weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

See Also: Cost of Capital Explained

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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