SRN Advisors LLC Reduces Stake in International Business Machines Co. (NYSE:IBM)

SRN Advisors LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,141 shares of the technology company’s stock after selling 601 shares during the period. International Business Machines makes up approximately 1.4% of SRN Advisors LLC’s investment portfolio, making the stock its 15th biggest position. SRN Advisors LLC’s holdings in International Business Machines were worth $1,746,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IBM. EverSource Wealth Advisors LLC grew its stake in shares of International Business Machines by 75.5% during the first quarter. EverSource Wealth Advisors LLC now owns 2,405 shares of the technology company’s stock valued at $459,000 after buying an additional 1,035 shares during the last quarter. Railway Pension Investments Ltd bought a new position in shares of International Business Machines during the first quarter valued at approximately $24,328,000. DekaBank Deutsche Girozentrale grew its stake in shares of International Business Machines by 6.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,355,436 shares of the technology company’s stock valued at $258,494,000 after buying an additional 87,457 shares during the last quarter. Peninsula Wealth LLC bought a new position in shares of International Business Machines during the first quarter valued at approximately $397,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of International Business Machines during the first quarter valued at approximately $4,130,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IBM shares. BNP Paribas started coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target for the company. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. 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 report on Monday, April 22nd. Wedbush boosted their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Morgan Stanley lowered their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.93.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $0.54 during mid-day trading on Friday, hitting $189.12. The stock had a trading volume of 4,548,824 shares, compared to its average volume of 3,874,536. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a 50 day moving average of $176.64 and a two-hundred day moving average of $180.17. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $199.18. The firm has a market cap of $174.21 billion, a PE ratio of 21.42, a PEG ratio of 4.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. Research analysts predict that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s dividend payout ratio is currently 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.