International Business Machines Co. (NYSE:IBM) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its position in International Business Machines Co. (NYSE:IBM) by 49.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,478 shares of the technology company’s stock after selling 6,404 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in International Business Machines were worth $1,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after buying an additional 61,028 shares during the period. Norges Bank purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $1,019,009,000. Dimensional Fund Advisors LP raised its holdings in shares of International Business Machines by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after buying an additional 97,482 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in International Business Machines by 15,439.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. UBS Group lifted their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. JPMorgan Chase & Co. decreased their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of International Business Machines in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $182.53.

International Business Machines Trading Down 0.0 %

IBM traded down $0.04 during trading on Tuesday, reaching $184.11. The company had a trading volume of 137,254 shares, compared to its average volume of 4,376,607. The firm’s 50-day simple moving average is $173.17 and its 200 day simple moving average is $178.59. The company has a market cap of $169.12 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 4.52 and a beta of 0.71. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (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 return on equity of 40.21% and a net margin of 13.18%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS. Equities research analysts anticipate that International Business Machines Co. will post 9.89 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.63%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s payout ratio is currently 75.65%.

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.