Todd Asset Management LLC Decreases Position in International Business Machines Co. (NYSE:IBM)

Todd Asset Management LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 201,372 shares of the technology company’s stock after selling 2,023 shares during the quarter. Todd Asset Management LLC’s holdings in International Business Machines were worth $32,934,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of International Business Machines by 0.4% during the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after buying an additional 365,388 shares during the period. Morgan Stanley boosted its position in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after acquiring an additional 1,919,490 shares in the last quarter. Northern Trust Corp increased its holdings in shares of International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after acquiring an additional 404,948 shares during the period. California Public Employees Retirement System raised its position in shares of International Business Machines by 15.9% in the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after acquiring an additional 871,247 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in International Business Machines by 15,439.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after purchasing an additional 2,636,386 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM traded up $1.02 during trading on Friday, reaching $165.71. 3,400,405 shares of the company’s stock were exchanged, compared to its average volume of 4,768,629. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The stock has a market capitalization of $152.22 billion, a P/E ratio of 18.77, a PEG ratio of 4.08 and a beta of 0.74. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The business has a 50 day moving average price of $185.75 and a 200-day moving average price of $171.01.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. During the same quarter in the prior year, the business earned $1.36 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 9.92 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.03%. The ex-dividend date is Thursday, May 9th. International Business Machines’s payout ratio is 75.20%.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. Bank of America raised their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Morgan Stanley decreased their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Sanford C. Bernstein increased their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Finally, Jefferies Financial Group dropped their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $181.29.

International Business Machines Company Profile

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.