Lathrop Investment Management Corp Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Lathrop Investment Management Corp decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,077 shares of the technology company’s stock after selling 157 shares during the period. Lathrop Investment Management Corp’s holdings in International Business Machines were worth $8,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 acquiring an additional 365,388 shares during the last quarter. Morgan Stanley increased its position in International Business Machines by 13.4% during the third 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 during the last quarter. Northern Trust Corp increased its position in International Business Machines by 4.2% during the third 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 last quarter. Bank of New York Mellon Corp increased its position in International Business Machines by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock valued at $1,219,399,000 after acquiring an additional 807,357 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of International Business Machines by 15.9% in the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after purchasing an additional 871,247 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group upped their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a report on Wednesday, April 17th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Wedbush upped their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.08.

International Business Machines Stock Down 1.1 %

Shares of IBM stock traded down $1.78 during mid-day trading on Friday, hitting $167.13. 8,983,796 shares of the stock traded hands, compared to its average volume of 3,906,041. The stock has a market cap of $153.21 billion, a P/E ratio of 18.94, a P/E/G ratio of 3.33 and a beta of 0.70. The stock’s fifty day moving average is $187.60 and its two-hundred day moving average is $170.15. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Equities analysts predict that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is currently 75.20%.

International Business Machines 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.