International Business Machines Co. (NYSE:IBM) Position Lowered by Assenagon Asset Management S.A.

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the 1st quarter valued at approximately $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the second quarter worth $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc boosted its holdings in shares of International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after buying an additional 100 shares during the period. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $15.81 during trading on Thursday, hitting $216.94. The stock had a trading volume of 6,600,125 shares, compared to its average volume of 4,203,059. The business has a fifty day moving average of $214.67 and a two-hundred day moving average of $190.05. The firm has a market cap of $199.28 billion, a P/E ratio of 24.65, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $136.33 and a fifty-two week 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.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. 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 currently 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.