International Business Machines Co. (NYSE:IBM) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.9% during the first quarter, Holdings Channel reports. The institutional investor owned 20,687 shares of the technology company’s stock after selling 844 shares during the period. Gamco Investors INC. ET AL’s holdings in International Business Machines were worth $3,950,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the first quarter worth about $26,000. Naples Money Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $28,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the first quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Royal Bank of Canada upped their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets upped their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday. Finally, BNP Paribas began coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target of $184.93.

International Business Machines Trading Down 0.1 %

IBM stock traded down $0.23 on Friday, hitting $191.75. 4,294,875 shares of the company were exchanged, compared to its average volume of 3,459,853. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $199.18. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.09. The business’s fifty day moving average is $174.75 and its two-hundred day moving average is $179.12. The stock has a market capitalization of $176.14 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 4.70 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the business posted $2.18 earnings per share. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 9.98 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. This is a positive change 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 yield of 3.48%. International Business Machines’s dividend payout ratio is 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.