New York Life Investment Management LLC Sells 242 Shares of International Business Machines Co. (NYSE:IBM)

New York Life Investment Management LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,579 shares of the technology company’s stock after selling 242 shares during the quarter. New York Life Investment Management LLC’s holdings in International Business Machines were worth $23,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the 1st quarter valued at $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines during the first quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines in the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at about $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its holdings in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $200.87 on Friday. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $205.95. The company has a market cap of $184.52 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a fifty day simple moving average of $189.52 and a two-hundred day simple moving average of $182.51.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm posted $2.18 earnings per share. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 10.09 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. 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. Jefferies Financial Group upped their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets raised their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $185.93.

International Business Machines Company 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.