Forbes J M & Co. LLP Has $12.66 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Forbes J M & Co. LLP decreased its position in shares of International Business Machines Co. (NYSE:IBMFree Report) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,311 shares of the technology company’s stock after selling 381 shares during the quarter. International Business Machines makes up approximately 1.4% of Forbes J M & Co. LLP’s portfolio, making the stock its 25th biggest position. Forbes J M & Co. LLP’s holdings in International Business Machines were worth $12,663,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC raised its position in shares of International Business Machines by 5.8% in the 3rd quarter. Clearbridge Investments LLC now owns 34,406 shares of the technology company’s stock worth $4,827,000 after acquiring an additional 1,891 shares in the last quarter. LPL Financial LLC raised its position in shares of International Business Machines by 8.2% in the 3rd quarter. LPL Financial LLC now owns 1,059,275 shares of the technology company’s stock worth $148,616,000 after acquiring an additional 80,064 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of International Business Machines by 75.1% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 11,735 shares of the technology company’s stock worth $1,646,000 after acquiring an additional 5,035 shares in the last quarter. Mariner LLC raised its position in shares of International Business Machines by 2.4% in the 3rd quarter. Mariner LLC now owns 237,852 shares of the technology company’s stock worth $33,371,000 after acquiring an additional 5,516 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. raised its position in shares of International Business Machines by 8.4% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 4,823 shares of the technology company’s stock worth $677,000 after acquiring an additional 373 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $1.46 during midday trading on Friday, reaching $172.46. The company’s stock had a trading volume of 10,182,025 shares, compared to its average volume of 2,992,791. International Business Machines Co. has a 12-month low of $129.18 and a 12-month high of $199.18. The firm has a 50 day moving average price of $170.91 and a 200-day moving average price of $176.11. The stock has a market capitalization of $158.42 billion, a P/E ratio of 19.53, a PEG ratio of 4.29 and a beta of 0.72. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBMGet Free Report) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is presently 75.65%.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Bank of America boosted their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. BMO Capital Markets decreased their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their target price on 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. Finally, Sanford C. Bernstein boosted their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $181.29.

Check Out Our Latest Research Report on IBM

International Business Machines Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBMFree Report).

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.