Leisure Capital Management Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Leisure Capital Management cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 21.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,629 shares of the technology company’s stock after selling 451 shares during the period. Leisure Capital Management’s holdings in International Business Machines were worth $266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in International Business Machines by 15,439.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares during the period. Morgan Stanley increased its position in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. California Public Employees Retirement System grew its holdings in shares of International Business Machines by 15.9% in the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after acquiring an additional 871,247 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of International Business Machines by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after acquiring an additional 807,357 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after acquiring an additional 404,948 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IBM. Bank of America upped their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday. Sanford C. Bernstein increased their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Finally, Morgan Stanley lowered their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $184.08.

International Business Machines Stock Down 1.1 %

NYSE:IBM traded down $1.78 during mid-day trading on Friday, hitting $167.13. The company had a trading volume of 8,983,796 shares, compared to its average volume of 3,906,041. The business has a fifty day simple moving average of $187.60 and a 200-day simple moving average of $170.15. The company has a current ratio of 1.13, a quick ratio of 0.93 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The firm has a market capitalization of $153.21 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 3.33 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. Equities analysts forecast that International Business Machines Co. will post 9.99 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were paid a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. International Business Machines’s dividend payout ratio is presently 75.20%.

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.