Payden & Rygel Sells 2,400 Shares of International Business Machines Corporation $IBM

Payden & Rygel trimmed its position in International Business Machines Corporation (NYSE:IBM) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,900 shares of the technology company’s stock after selling 2,400 shares during the quarter. International Business Machines comprises about 1.4% of Payden & Rygel’s investment portfolio, making the stock its 23rd biggest position. Payden & Rygel’s holdings in International Business Machines were worth $20,113,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IBM. Brighton Jones LLC increased its holdings in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of International Business Machines by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after purchasing an additional 186 shares during the last quarter. Jump Financial LLC bought a new stake in shares of International Business Machines in the second quarter worth about $211,000. Ieq Capital LLC increased its holdings in shares of International Business Machines by 2.2% in the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock worth $11,383,000 after purchasing an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its position in International Business Machines by 11.6% in the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock worth $300,000 after purchasing an additional 106 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IBM shares. Argus set a $360.00 price target on shares of International Business Machines in a research report on Friday, January 30th. Royal Bank Of Canada reduced their price target on shares of International Business Machines from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Oppenheimer reduced their price target on shares of International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. BMO Capital Markets reduced their price target on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research report on Thursday, April 23rd. Finally, Weiss Ratings cut shares of International Business Machines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $294.41.

Insiders Place Their Bets

In other news, Director Michael Miebach acquired 434 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were acquired at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the transaction, the director directly owned 434 shares of the company’s stock, valued at approximately $101,265.22. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

International Business Machines Trading Up 1.6%

Shares of NYSE IBM opened at $222.84 on Tuesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $324.90. The stock has a market capitalization of $209.45 billion, a P/E ratio of 19.70, a PEG ratio of 2.27 and a beta of 0.58. The business’s 50 day moving average is $239.81 and its two-hundred day moving average is $274.15.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter in the previous year, the business posted $1.60 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 3.0%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date is Friday, May 8th. International Business Machines’s dividend payout ratio (DPR) is presently 59.77%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.