Bank Julius Baer & Co. Ltd Zurich Cuts Stake in International Business Machines Co. (NYSE:IBM)

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in International Business Machines Co. (NYSE:IBM) by 39.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,870 shares of the technology company’s stock after selling 5,702 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in International Business Machines were worth $1,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Naples Money Management LLC acquired a new stake in International Business Machines during the 4th quarter worth about $28,000. Briaud Financial Planning Inc purchased a new position in shares of International Business Machines in the 3rd quarter valued at about $31,000. Stone House Investment Management LLC increased its stake in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. increased its stake in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares in the last quarter. Finally, Cordant Inc. increased its stake in shares of International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $167.20 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The firm has a 50-day simple moving average of $187.60 and a 200 day simple moving average of $170.15. The company has a market cap of $153.28 billion, a PE ratio of 18.94, a P/E/G ratio of 3.33 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion during 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%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 EPS. On average, sell-side analysts anticipate that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is 75.20%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Royal Bank of Canada boosted their price objective on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Bank of America boosted their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Societe Generale reiterated a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. Finally, UBS Group upped their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $184.08.

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.