Assenagon Asset Management S.A. Has $75.61 Million Holdings in International Business Machines Co. (NYSE:IBM)

Assenagon Asset Management S.A. cut its position in shares of International Business Machines Co. (NYSE:IBM) by 23.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 342,009 shares of the technology company’s stock after selling 106,865 shares during the quarter. Assenagon Asset Management S.A.’s holdings in International Business Machines were worth $75,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ellenbecker Investment Group boosted its stake in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the period. McAdam LLC boosted its position in shares of International Business Machines by 1.5% in the third quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock worth $789,000 after buying an additional 52 shares during the period. Castleview Partners LLC grew its holdings in shares of International Business Machines by 3.7% during the third quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after buying an additional 55 shares in the last quarter. Armbruster Capital Management Inc. raised its position in International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after buying an additional 56 shares during the period. Finally, Aspect Partners LLC lifted its stake in International Business Machines by 11.2% in the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after acquiring an additional 56 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on IBM shares. BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada increased their price objective on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

IBM traded down $15.81 on Thursday, hitting $216.94. The company had a trading volume of 6,600,125 shares, compared to its average volume of 4,203,059. International Business Machines Co. has a 1-year low of $136.33 and a 1-year high of $237.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company’s fifty day moving average price is $214.67 and its 200 day moving average price is $190.05. The stock has a market cap of $199.28 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.05. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. Equities analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.08%. International Business Machines’s dividend payout ratio is presently 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.