Coastwise Capital Group LLC Lowers Stake in International Business Machines Co. (NYSE:IBM)

Coastwise Capital Group LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBMFree Report) by 6.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,778 shares of the technology company’s stock after selling 605 shares during the period. International Business Machines makes up approximately 1.5% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 14th largest position. Coastwise Capital Group LLC’s holdings in International Business Machines were worth $1,436,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in International Business Machines by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after buying an additional 365,388 shares during the period. Morgan Stanley boosted its position in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after buying an additional 1,919,490 shares during the period. Northern Trust Corp boosted its position in International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after buying an additional 404,948 shares during the period. Charles Schwab Investment Management Inc. boosted its position in International Business Machines by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after buying an additional 61,028 shares during the period. Finally, Norges Bank acquired a new stake in shares of International Business Machines in the 4th quarter valued at $1,019,009,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IBM shares. Jefferies Financial Group reduced their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Morgan Stanley reduced their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a report on Wednesday, May 22nd. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, BNP Paribas initiated coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $181.29.

Get Our Latest Stock Report on International Business Machines

International Business Machines Stock Performance

NYSE IBM traded down $1.06 during trading on Tuesday, reaching $169.32. The company’s stock had a trading volume of 2,948,386 shares, compared to its average volume of 4,607,598. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The firm has a market cap of $155.54 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 4.19 and a beta of 0.72. International Business Machines Co. has a twelve month low of $129.18 and a twelve month high of $199.18. The business’s fifty day moving average price is $173.65 and its 200-day moving average price is $175.56.

International Business Machines (NYSE:IBMGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share. As a group, analysts anticipate that International Business Machines Co. will post 9.91 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued 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 annualized dividend and a dividend yield of 3.95%. International Business Machines’s payout ratio is presently 75.65%.

About International Business Machines

(Free Report)

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.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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