Amalgamated Bank Cuts Stake in International Business Machines Co. (NYSE:IBM)

Amalgamated Bank lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 220,981 shares of the technology company’s stock after selling 9,299 shares during the period. Amalgamated Bank’s holdings in International Business Machines were worth $36,141,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Summit Global Investments lifted its stake in shares of International Business Machines by 29.4% during the 4th quarter. Summit Global Investments now owns 2,169 shares of the technology company’s stock valued at $355,000 after buying an additional 493 shares in the last quarter. Aveo Capital Partners LLC grew its position in shares of International Business Machines by 3.6% in the fourth quarter. Aveo Capital Partners LLC now owns 3,101 shares of the technology company’s stock valued at $507,000 after purchasing an additional 109 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. raised its stake in shares of International Business Machines by 61.9% during the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 41,583 shares of the technology company’s stock valued at $6,801,000 after purchasing an additional 15,902 shares during the period. Los Angeles Capital Management LLC lifted its holdings in International Business Machines by 57.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 81,945 shares of the technology company’s stock worth $13,402,000 after purchasing an additional 30,059 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its stake in International Business Machines by 1.1% in the 4th quarter. Natixis Advisors L.P. now owns 376,430 shares of the technology company’s stock worth $61,565,000 after purchasing an additional 4,123 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Royal Bank of Canada raised their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a report on Wednesday, April 17th. BNP Paribas began coverage on shares of International Business Machines in a report on Thursday. They set an “underperform” rating and a $145.00 price objective for the company. Finally, UBS Group boosted their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $181.29.

International Business Machines Price Performance

Shares of IBM stock traded up $0.26 during mid-day trading on Thursday, hitting $164.69. The company had a trading volume of 3,822,605 shares, compared to its average volume of 4,997,500. The company has a market capitalization of $150.98 billion, a P/E ratio of 18.53, a P/E/G ratio of 4.08 and a beta of 0.74. The stock’s 50 day moving average price is $186.54 and its 200-day moving average price is $170.87. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. 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:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. Equities research analysts forecast that International Business Machines Co. will post 9.94 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.06%. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

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.