International Business Machines Co. (NYSE:IBM) Shares Sold by Saxon Interests Inc.

Saxon Interests Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 51.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,416 shares of the technology company’s stock after selling 3,584 shares during the quarter. Saxon Interests Inc.’s holdings in International Business Machines were worth $652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBM. Schonfeld Strategic Advisors LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $801,000. Hodges Capital Management Inc. acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $877,000. Lazard Asset Management LLC raised its position in shares of International Business Machines by 30.8% during the 3rd quarter. Lazard Asset Management LLC now owns 1,256,859 shares of the technology company’s stock worth $176,336,000 after purchasing an additional 295,750 shares during the period. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $238,000. Finally, AQR Capital Management LLC raised its position in shares of International Business Machines by 35.8% during the 3rd quarter. AQR Capital Management LLC now owns 723,767 shares of the technology company’s stock worth $101,544,000 after purchasing an additional 190,960 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research reports. Sanford C. Bernstein increased their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. BMO Capital Markets decreased their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Price Performance

NYSE IBM traded up $2.21 on Tuesday, reaching $177.31. 2,882,965 shares of the stock traded hands, compared to its average volume of 4,543,362. The firm’s fifty day simple moving average is $169.82 and its 200 day simple moving average is $176.66. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The company has a market cap of $162.88 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.27 and a beta of 0.71. International Business Machines Co. has a 12 month low of $131.55 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating 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 company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is 75.65%.

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.