International Business Machines Co. (NYSE:IBM) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 10.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 143,487 shares of the technology company’s stock after selling 16,947 shares during the period. New York Life Investment Management LLC’s holdings in International Business Machines were worth $23,467,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IBM. Naples Money Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth $28,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines in the 3rd quarter valued at $31,000. Stone House Investment Management LLC increased its holdings in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. increased its holdings in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares in the last quarter. Finally, Cordant Inc. increased its holdings in International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 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 analysts recently issued reports on IBM shares. Bank of America increased their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Jefferies Financial Group lowered their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. UBS Group upped their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $184.08.

International Business Machines Stock Down 1.1 %

Shares of IBM stock traded down $1.77 during trading hours on Wednesday, hitting $164.43. 4,028,502 shares of the company were exchanged, compared to its average volume of 5,011,473. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The business’s 50-day simple moving average is $186.85 and its two-hundred day simple moving average is $170.91. The stock has a market capitalization of $150.74 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 4.10 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. Sell-side analysts predict that International Business Machines Co. will post 9.98 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.06%. International Business Machines’s dividend payout ratio is 75.20%.

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.