King Luther Capital Management Corp Trims Stake in International Business Machines Co. (NYSE:IBM)

King Luther Capital Management Corp reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 11.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 28,154 shares of the technology company’s stock after selling 3,533 shares during the period. King Luther Capital Management Corp’s holdings in International Business Machines were worth $4,869,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 2,118,165 shares during the period. Strategic Financial Concepts LLC increased its holdings in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the period. National Bank of Canada FI increased its holdings in shares of International Business Machines by 79.4% in the 1st quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after acquiring an additional 408,230 shares during the period. Finally, Capital Wealth Planning LLC increased its holdings in shares of International Business Machines by 37.2% in the 1st quarter. Capital Wealth Planning LLC now owns 1,450,768 shares of the technology company’s stock valued at $277,039,000 after acquiring an additional 393,680 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of analyst reports. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets lifted their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $188.60.

International Business Machines Stock Performance

Shares of IBM opened at $217.70 on Friday. The stock has a 50-day moving average of $196.52 and a two-hundred day moving average of $184.33. International Business Machines Co. has a one year low of $135.87 and a one year 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. The stock has a market cap of $199.98 billion, a P/E ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued 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 during 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 company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 EPS. As a group, research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is presently 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.