Matrix Asset Advisors Inc. NY Sells 338 Shares of International Business Machines Co. (NYSE:IBM)

Matrix Asset Advisors Inc. NY reduced its holdings in International Business Machines Co. (NYSE:IBM) by 23.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,117 shares of the technology company’s stock after selling 338 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in International Business Machines were worth $213,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC increased its position in shares of International Business Machines by 5.8% during the 3rd quarter. Clearbridge Investments LLC now owns 34,406 shares of the technology company’s stock valued at $4,827,000 after purchasing an additional 1,891 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of International Business Machines by 18.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 138,941 shares of the technology company’s stock valued at $19,493,000 after purchasing an additional 21,886 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of International Business Machines by 6.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 90,209 shares of the technology company’s stock valued at $12,656,000 after purchasing an additional 5,394 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of International Business Machines by 16.6% during the 3rd quarter. Valley National Advisers Inc. now owns 2,640 shares of the technology company’s stock valued at $370,000 after purchasing an additional 375 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC increased its position in shares of International Business Machines by 2.7% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 18,867 shares of the technology company’s stock valued at $2,808,000 after purchasing an additional 500 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. Bank of America increased their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Jefferies Financial Group dropped their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Sanford C. Bernstein increased their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday. They issued a “buy” rating and a $200.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $182.53.

International Business Machines Stock Down 0.4 %

IBM stock opened at $171.87 on Thursday. International Business Machines Co. has a twelve month low of $130.83 and a twelve month high of $199.18. 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 stock has a market cap of $157.88 billion, a P/E ratio of 19.46, a PEG ratio of 4.26 and a beta of 0.72. The business’s 50-day moving average price is $170.56 and its 200-day moving average price is $176.40.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $1.36 EPS. On average, equities research analysts forecast that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.89%. International Business Machines’s payout ratio is presently 75.65%.

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.