International Business Machines Co. (NYSE:IBM) Shares Sold by Parthenon LLC

Parthenon LLC lowered its position in International Business Machines Co. (NYSE:IBMGet Rating) by 24.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,463 shares of the technology company’s stock after selling 4,644 shares during the quarter. Parthenon LLC’s holdings in International Business Machines were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of International Business Machines by 6.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 23,472 shares of the technology company’s stock valued at $3,137,000 after acquiring an additional 1,337 shares during the period. Pinnacle Financial Partners Inc. increased its stake in shares of International Business Machines by 4.5% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 18,813 shares of the technology company’s stock valued at $2,515,000 after acquiring an additional 812 shares during the period. Blodgett Wealth Advisors LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at approximately $256,000. Pinnacle Associates Ltd. increased its stake in shares of International Business Machines by 1.1% during the fourth quarter. Pinnacle Associates Ltd. now owns 93,394 shares of the technology company’s stock valued at $12,483,000 after acquiring an additional 1,055 shares during the period. Finally, Hengehold Capital Management LLC boosted its holdings in International Business Machines by 31.9% during the fourth quarter. Hengehold Capital Management LLC now owns 3,066 shares of the technology company’s stock worth $410,000 after buying an additional 741 shares in the last quarter. Institutional investors and hedge funds own 55.22% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. BMO Capital Markets reduced their target price on shares of International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Tigress Financial raised their target price on shares of International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Bank of America raised their target price on shares of International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, April 20th. Finally, Morgan Stanley decreased their price objective on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $146.10.

Insider Activity

In other news, major shareholder Business Machine International sold 22,301,536 shares of the firm’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the transaction, the insider now owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is owned by insiders.

International Business Machines Stock Up 0.3 %

Shares of NYSE:IBM traded up $0.40 during trading on Friday, reaching $132.04. 69,936 shares of the company traded hands, compared to its average volume of 6,395,605. The firm has a fifty day simple moving average of $136.74 and a 200 day simple moving average of $132.76. The firm has a market cap of $119.26 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 2.00 and a beta of 0.85. International Business Machines Co. has a 1-year low of $114.56 and a 1-year high of $146.00. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 2.28.

International Business Machines (NYSE:IBMGet Rating) last issued its earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.02. The company had revenue of $15.54 billion during the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. Analysts anticipate that International Business Machines Co. will post 9.47 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th will be issued a dividend of $1.65 per share. The ex-dividend date is Tuesday, August 9th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 5.00%. International Business Machines’s dividend payout ratio is currently 107.14%.

International Business Machines Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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

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