Delta Asset Management LLC TN Reduces Stake in International Business Machines Co. (NYSE:IBM)

Delta Asset Management LLC TN cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,989 shares of the technology company’s stock after selling 107 shares during the period. Delta Asset Management LLC TN’s holdings in International Business Machines were worth $979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in International Business Machines by 0.4% during 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 purchasing an additional 365,388 shares during the period. Morgan Stanley increased its position in shares of International Business Machines by 13.4% during the third 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 raised its stake in International Business Machines by 4.2% in the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after buying an additional 404,948 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in International Business Machines by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after buying an additional 61,028 shares during the period. Finally, Norges Bank bought a new stake in International Business Machines during the 4th quarter valued at approximately $1,019,009,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.1 %

Shares of IBM stock traded up $0.22 during mid-day trading on Wednesday, hitting $173.69. The company’s stock had a trading volume of 3,290,487 shares, compared to its average volume of 4,788,152. The stock has a market cap of $159.55 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 4.19 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines Co. has a 52-week low of $125.01 and a 52-week high of $199.18. The business has a 50-day moving average price of $180.44 and a 200 day moving average price of $173.73.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the business earned $1.36 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 9.91 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.85%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IBM shares. Bank of America raised their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. BMO Capital Markets dropped their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Wedbush upped their target price on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $181.29.

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.