Ignite Planners LLC Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Ignite Planners LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,097 shares of the technology company’s stock after selling 81 shares during the quarter. Ignite Planners LLC’s holdings in International Business Machines were worth $673,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in International Business Machines by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,701,925 shares of the technology company’s stock valued at $2,626,331,000 after acquiring an additional 270,201 shares in the last quarter. Morgan Stanley lifted its position in shares of International Business Machines by 22.8% during the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after purchasing an additional 3,084,458 shares during the last quarter. Geode Capital Management LLC grew its stake in International Business Machines by 1.5% in the first quarter. Geode Capital Management LLC now owns 16,209,322 shares of the technology company’s stock worth $2,120,034,000 after purchasing an additional 235,143 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in International Business Machines by 98,797.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock valued at $1,553,876,000 after buying an additional 11,017,849 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in International Business Machines by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,130,808 shares of the technology company’s stock worth $966,020,000 after buying an additional 77,916 shares during the last quarter. 56.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IBM shares. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of International Business Machines in a research report on Friday, July 7th. They issued a “neutral” rating and a $145.00 price target on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $135.00 price objective on shares of International Business Machines in a research report on Thursday, July 20th. Wedbush reiterated a “neutral” rating and set a $140.00 price objective on shares of International Business Machines in a research note on Thursday, July 20th. Finally, BMO Capital Markets lifted their target price on International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $142.91.

International Business Machines Stock Performance

International Business Machines stock traded down $0.14 during mid-day trading on Monday, hitting $145.85. 767,124 shares of the company’s stock traded hands, compared to its average volume of 4,533,127. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a one year low of $115.54 and a one year high of $153.21. The firm has a 50 day moving average price of $142.59 and a 200 day moving average price of $133.71. The company has a market cap of $132.87 billion, a PE ratio of 67.33, a price-to-earnings-growth ratio of 3.74 and a beta of 0.85.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.18. The business had revenue of $15.48 billion for the quarter, compared to analysts’ expectations of $15.58 billion. International Business Machines had a net margin of 3.35% and a return on equity of 38.10%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 earnings per share. On average, equities analysts forecast that International Business Machines Co. will post 9.43 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th were issued a $1.66 dividend. This represents a $6.64 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend was Wednesday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 307.41%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, 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; 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.