Gamco Investors INC. ET AL Cuts Holdings in International Business Machines Co. (NYSE:IBM)

Gamco Investors INC. ET AL reduced its position in International Business Machines Co. (NYSE:IBM) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,687 shares of the technology company’s stock after selling 844 shares during the period. Gamco Investors INC. ET AL’s holdings in International Business Machines were worth $3,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines in the 1st quarter worth $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines in the 1st quarter worth $28,000. Naples Money Management LLC purchased a new position in shares of International Business Machines in the 4th quarter worth $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines in the 4th quarter worth $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines in the 4th quarter worth $31,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE:IBM traded down $0.23 on Friday, reaching $191.75. 4,294,875 shares of the company’s stock traded hands, compared to its average volume of 3,459,853. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The stock has a 50-day simple moving average of $174.75 and a 200-day simple moving average of $179.12. The firm has a market cap of $176.14 billion, a PE ratio of 21.72, a P/E/G ratio of 4.70 and a beta of 0.71. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm posted $2.18 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 9.98 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.48%. 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 payout ratio is 75.65%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday. Wedbush lifted their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. 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 research report on Friday, April 26th. BNP Paribas assumed coverage on International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. Finally, 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 research report on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $184.93.

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.