Carret Asset Management LLC Has $3.75 Million Holdings in International Business Machines Co. (NYSE:IBM)

Carret Asset Management LLC reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,652 shares of the technology company’s stock after selling 356 shares during the period. Carret Asset Management LLC’s holdings in International Business Machines were worth $3,753,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. increased its position 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 acquiring an additional 54 shares during the last quarter. Arden Trust Co lifted its stake in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after purchasing an additional 54 shares during the period. Calamos Wealth Management LLC lifted its stake in shares of International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after purchasing an additional 55 shares during the period. Avion Wealth grew its position in International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after buying an additional 56 shares during the period. Finally, Chicago Partners Investment Group LLC increased its holdings in International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

International Business Machines stock traded down $1.57 during midday trading on Wednesday, reaching $175.73. 1,647,160 shares of the stock traded hands, compared to its average volume of 4,520,448. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 12 month low of $131.55 and a 12 month high of $199.18. The stock’s fifty day moving average is $169.72 and its 200-day moving average is $176.76. The stock has a market cap of $161.43 billion, a P/E ratio of 19.98, a PEG ratio of 4.27 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during 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% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IBM shares. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Wedbush upped their price target on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. The Goldman Sachs Group initiated coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Bank of America raised their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $182.53.

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.