Westfield Capital Management Co. LP Sells 4,828 Shares of International Business Machines Co. (NYSE:IBM)

Westfield Capital Management Co. LP cut its holdings in International Business Machines Co. (NYSE:IBM) by 5.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,218 shares of the technology company’s stock after selling 4,828 shares during the period. Westfield Capital Management Co. LP’s holdings in International Business Machines were worth $16,655,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Desjardins Global Asset Management Inc. increased its stake in shares of International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares during the period. Arden Trust Co increased its stake in International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after acquiring an additional 54 shares during the period. Calamos Wealth Management LLC increased its stake in International Business Machines by 2.8% during the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after acquiring an additional 55 shares during the period. Avion Wealth increased its stake in International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after acquiring an additional 56 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after acquiring an additional 58 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on IBM shares. Jefferies Financial Group lowered 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of International Business Machines in a report on Wednesday, May 22nd. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. JPMorgan Chase & Co. decreased their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $182.53.

International Business Machines Trading Down 1.1 %

NYSE:IBM traded down $1.97 during trading hours on Friday, hitting $183.25. 3,816,039 shares of the stock were exchanged, compared to its average volume of 3,452,805. The company’s 50 day moving average is $172.83 and its two-hundred day moving average is $178.30. The company has a market capitalization of $168.33 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 4.52 and a beta of 0.71. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The company 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%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. On average, sell-side analysts anticipate that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.65%. International Business Machines’s payout ratio is presently 75.65%.

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.