International Business Machines Co. (NYSE:IBM) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 89.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,010 shares of the technology company’s stock after selling 41,135 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in International Business Machines were worth $1,246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors raised its stake in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank acquired a new stake in International Business Machines during the 4th quarter worth $1,236,176,000. GAMMA Investing LLC grew its position in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. Raymond James Financial Inc. purchased a new position in International Business Machines during the 4th quarter worth $592,746,000. Finally, Northern Trust Corp grew its position in International Business Machines by 18.6% during 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 last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank of Canada boosted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $249.06.

International Business Machines Trading Up 0.1%

NYSE IBM opened at $265.34 on Thursday. International Business Machines Co. has a 12 month low of $165.78 and a 12 month high of $269.28. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market capitalization of $246.61 billion, a price-to-earnings ratio of 41.39, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company’s fifty day moving average price is $247.45 and its two-hundred day moving average price is $240.98.

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

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.53%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

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.