Sterling Capital Management LLC Decreases Stock Holdings in International Business Machines Corporation $IBM

Sterling Capital Management LLC lessened its position in shares of International Business Machines Corporation (NYSE:IBM) by 94.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,803 shares of the technology company’s stock after selling 31,886 shares during the quarter. Sterling Capital Management LLC’s holdings in International Business Machines were worth $437,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IBM. Family CFO Inc purchased a new stake in shares of International Business Machines during the 4th quarter valued at $25,000. Basepoint Wealth LLC acquired a new stake in International Business Machines in the fourth quarter worth about $25,000. Joseph Group Capital Management purchased a new stake in shares of International Business Machines during the fourth quarter worth about $28,000. Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $28,000. Finally, SWAN Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at approximately $28,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on IBM shares. Susquehanna began coverage on shares of International Business Machines in a report on Tuesday, June 23rd. They issued a “neutral” rating for the company. Oppenheimer cut their price objective on International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. HSBC upgraded International Business Machines from a “reduce” rating to a “hold” rating and upped their target price for the company from $218.00 to $231.00 in a research report on Tuesday, April 28th. Needham & Company LLC assumed coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of International Business Machines in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and an average target price of $306.76.

International Business Machines Stock Performance

IBM opened at $288.95 on Friday. The firm has a fifty day moving average price of $256.99 and a 200 day moving average price of $266.36. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $332.46. The stock has a market cap of $271.58 billion, a P/E ratio of 25.55, a P/E/G ratio of 3.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same quarter last year, the business earned $1.60 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Corporation will post 12.4 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.3%. International Business Machines’s payout ratio is 59.77%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.