Worth Asset Management LLC Sells 1,490 Shares of International Business Machines Co. (NYSE:IBM)

Worth Asset Management LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 42.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,018 shares of the technology company’s stock after selling 1,490 shares during the period. Worth Asset Management LLC’s holdings in International Business Machines were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IBM. Vanguard Group Inc. boosted its stake in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the last quarter. Capital World Investors lifted its position in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Northern Trust Corp grew its position in International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in International Business Machines by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock valued at $1,783,281,000 after buying an additional 722,582 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.1%

IBM stock opened at $258.88 on Monday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1-year low of $163.53 and a 1-year high of $269.28. The business has a 50 day simple moving average of $246.37 and a two-hundred day simple moving average of $240.23. The company has a market capitalization of $240.60 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. International Business Machines’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 earnings per share. Research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.60%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Analysts Set New Price Targets

IBM has been the subject of several research reports. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. UBS Group reaffirmed a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $249.06.

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.