Renaissance Technologies LLC Has $56.90 Million Holdings in International Business Machines Co. (NYSE:IBM)

Renaissance Technologies LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 62.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 329,000 shares of the technology company’s stock after selling 555,000 shares during the quarter. Renaissance Technologies LLC’s holdings in International Business Machines were worth $56,901,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the first quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its position in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $214.13 on Wednesday. The stock has a market capitalization of $196.70 billion, a P/E ratio of 24.25, a P/E/G ratio of 4.67 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84. The business has a 50-day moving average price of $194.37 and a two-hundred day moving average price of $183.78.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $2.18 earnings per share. Equities analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.12%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of analyst reports. The Goldman Sachs Group began coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $188.60.

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.