Altshuler Shaham Ltd Has $93,000 Holdings in International Business Machines Co. (NYSE:IBM)

Altshuler Shaham Ltd lessened its position in International Business Machines Co. (NYSE:IBM) by 75.6% in the fourth quarter, HoldingsChannel reports. The fund owned 571 shares of the technology company’s stock after selling 1,767 shares during the quarter. Altshuler Shaham Ltd’s holdings in International Business Machines were worth $93,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IBM. WESPAC Advisors LLC purchased a new position in shares of International Business Machines during the third quarter valued at approximately $204,000. Cambridge Trust Co. boosted its position in International Business Machines by 0.9% in the third quarter. Cambridge Trust Co. now owns 13,515 shares of the technology company’s stock worth $1,896,000 after purchasing an additional 120 shares during the last quarter. Washington Capital Management Inc. purchased a new position in International Business Machines in the third quarter worth $955,000. Mirae Asset Global Investments Co. Ltd. boosted its position in International Business Machines by 19.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 485,616 shares of the technology company’s stock worth $68,141,000 after purchasing an additional 78,990 shares during the last quarter. Finally, Kanawha Capital Management LLC boosted its position in International Business Machines by 1.5% in the third quarter. Kanawha Capital Management LLC now owns 56,422 shares of the technology company’s stock worth $7,916,000 after purchasing an additional 822 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 2.1 %

NYSE IBM traded down $3.60 during trading on Thursday, hitting $166.30. The company’s stock had a trading volume of 4,266,007 shares, compared to its average volume of 4,926,219. 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 company has a market cap of $152.76 billion, a PE ratio of 18.83, a P/E/G ratio of 4.08 and a beta of 0.74. The business’s 50 day simple moving average is $184.80 and its 200-day simple moving average is $171.86. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.02%. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBM. 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 research note on Friday, January 19th. BNP Paribas began coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target on the stock. Morgan Stanley decreased their price target on shares of 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. Royal Bank of Canada upped their price target on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, BMO Capital Markets decreased their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.29.

About International Business Machines

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.