Cresset Asset Management LLC Sells 4,025 Shares of International Business Machines Co. (NYSE:IBM)

Cresset Asset Management LLC trimmed its stake in shares of International Business Machines Co. (NYSE:IBMGet Rating) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,662 shares of the technology company’s stock after selling 4,025 shares during the quarter. Cresset Asset Management LLC’s holdings in International Business Machines were worth $3,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Pictet Asset Management SA boosted its position in International Business Machines by 5.6% during the fourth quarter. Pictet Asset Management SA now owns 519,436 shares of the technology company’s stock worth $69,428,000 after purchasing an additional 27,516 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of International Business Machines by 15.2% during the fourth quarter. International Assets Investment Management LLC now owns 8,297 shares of the technology company’s stock worth $1,109,000 after buying an additional 1,096 shares in the last quarter. Covestor Ltd acquired a new stake in shares of International Business Machines during the fourth quarter worth $134,000. Charter Research & Investment Group Inc. lifted its holdings in shares of International Business Machines by 2.7% during the fourth quarter. Charter Research & Investment Group Inc. now owns 20,886 shares of the technology company’s stock worth $2,792,000 after buying an additional 540 shares in the last quarter. Finally, Texas Yale Capital Corp. lifted its holdings in shares of International Business Machines by 34.6% during the fourth quarter. Texas Yale Capital Corp. now owns 3,674 shares of the technology company’s stock worth $491,000 after buying an additional 945 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

International Business Machines Stock Up 0.6 %

IBM stock opened at $129.19 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 2.28. The company has a market cap of $116.68 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. International Business Machines Co. has a 52 week low of $114.56 and a 52 week high of $146.00. The business has a 50-day simple moving average of $133.09 and a 200 day simple moving average of $132.88.

International Business Machines (NYSE:IBMGet Rating) last issued its earnings results on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.29 by $0.02. The firm had revenue of $15.54 billion during the quarter, compared to the consensus estimate of $15.18 billion. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Sell-side analysts anticipate that International Business Machines Co. will post 9.47 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th were paid a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Tuesday, August 9th. International Business Machines’s payout ratio is 107.14%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IBM shares. Credit Suisse Group lifted their target price on International Business Machines from $156.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. BMO Capital Markets dropped their target price on International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. Finally, Morgan Stanley dropped their price target on International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $146.80.

International Business Machines Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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

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