New York Life Investment Management LLC Lowers Stake in International Business Machines Co. (NYSE:IBM)

New York Life Investment Management LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other large investors also recently bought and sold shares of IBM. Desjardins Global Asset Management Inc. raised its stake in International Business Machines by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares in the last quarter. Calamos Wealth Management LLC raised its stake in shares of International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after acquiring an additional 55 shares during the period. Avion Wealth raised its stake in shares of International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after acquiring an additional 56 shares during the period. Northwest Capital Management Inc raised its stake in shares of International Business Machines by 5.0% in the fourth quarter. Northwest Capital Management Inc now owns 1,230 shares of the technology company’s stock valued at $201,000 after acquiring an additional 59 shares during the period. Finally, Financial Security Advisor Inc. raised its stake in shares of International Business Machines by 2.7% in the fourth quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock valued at $384,000 after acquiring an additional 61 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Morgan Stanley cut 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. UBS Group upped their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Jefferies Financial Group cut their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Bank of America upped their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $184.08.

International Business Machines Stock Down 1.1 %

Shares of NYSE:IBM traded down $1.77 during trading on Wednesday, reaching $164.43. The stock had a trading volume of 4,028,502 shares, compared to its average volume of 5,011,473. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The company has a market capitalization of $150.74 billion, a P/E ratio of 18.76, a PEG ratio of 4.10 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm’s 50-day simple moving average is $186.85 and its 200 day simple moving average is $170.91.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period last 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, research analysts expect that International Business Machines Co. will post 9.98 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $1.67 dividend. This is a boost 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 currently 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.