Pacer Advisors Inc. Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Pacer Advisors Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 298,720 shares of the technology company’s stock after selling 16,937 shares during the period. Pacer Advisors Inc.’s holdings in International Business Machines were worth $51,664,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Arden Trust Co grew its stake in shares of International Business Machines by 2.8% in the first 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 last quarter. Armbruster Capital Management Inc. grew its position in shares of International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after buying an additional 56 shares during the last quarter. CVA Family Office LLC increased its stake in shares of International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after buying an additional 57 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of 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 acquiring an additional 58 shares in the last quarter. Finally, Peddock Capital Advisors LLC lifted its stake in International Business Machines by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. 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 report on Wednesday, September 4th. BMO Capital Markets increased their price target on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Jefferies Financial Group increased their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Up 1.8 %

Shares of International Business Machines stock opened at $217.70 on Friday. The company has a 50-day simple moving average of $196.52 and a two-hundred day simple moving average of $184.33. The stock has a market capitalization of $199.98 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $218.84. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. On average, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.07%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

About International Business Machines

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.