International Business Machines Co. (NYSE:IBM) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 11.5% in the second quarter, Holdings Channel.com reports. The fund owned 15,660 shares of the technology company’s stock after selling 2,034 shares during the quarter. AGF Management Ltd.’s holdings in International Business Machines were worth $2,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the 1st quarter valued at $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the 1st quarter valued at $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines during the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines during the 4th quarter valued at $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its stake in 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 valued at $38,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.8 %

Shares of NYSE:IBM opened at $211.61 on Friday. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $212.65. The firm has a fifty day moving average price of $192.05 and a 200 day moving average price of $183.18. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $194.39 billion, a PE ratio of 23.96, a P/E/G ratio of 4.47 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating 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 company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the company earned $2.18 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts expect 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 issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.16%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Finally, UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.