International Business Machines Co. (NYSE:IBM) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 90.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,539 shares of the technology company’s stock after selling 424,886 shares during the quarter. Assenagon Asset Management S.A.’s holdings in International Business Machines were worth $11,572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $31,000. Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $35,000. Tacita Capital Inc boosted its holdings in shares of International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBM. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America increased their price objective on International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Finally, Morgan Stanley cut their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $250.31.

International Business Machines Stock Down 1.5%

Shares of NYSE:IBM opened at $276.84 on Friday. The stock’s 50-day moving average price is $252.60 and its two-hundred day moving average price is $243.67. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $167.23 and a 12-month high of $283.06. The firm has a market cap of $257.29 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.43%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

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.