Norris Perne & French LLP MI Reduces Stock Position in International Business Machines Corporation (NYSE:IBM)

Norris Perne & French LLP MI trimmed its holdings in International Business Machines Corporation (NYSE:IBM) by 32.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,120 shares of the technology company’s stock after selling 1,016 shares during the period. Norris Perne & French LLP MI’s holdings in International Business Machines were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors raised its stake in shares of 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 valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Norges Bank purchased a new position in International Business Machines during the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC increased its position in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after buying an additional 4,384,958 shares during the period. Raymond James Financial Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at about $592,746,000. Finally, Northern Trust Corp lifted its holdings in shares of 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 worth $2,384,275,000 after buying an additional 1,704,209 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $283.15 on Thursday. The company has a market capitalization of $263.16 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 5.94 and a beta of 0.66. The business has a 50 day moving average of $255.73 and a 200 day moving average of $244.81. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a 1-year low of $170.41 and a 1-year high of $286.91.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period last year, the firm posted $1.68 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.37%. International Business Machines’s payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America boosted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $252.19.

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.