Metropolitan Life Insurance Co NY Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Metropolitan Life Insurance Co NY trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 39,571 shares of the technology company’s stock after selling 868 shares during the period. Metropolitan Life Insurance Co NY’s holdings in International Business Machines were worth $5,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. GeoWealth Management LLC increased its position in shares of International Business Machines by 155.9% in the second quarter. GeoWealth Management LLC now owns 5,576 shares of the technology company’s stock valued at $747,000 after buying an additional 3,397 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in International Business Machines by 2.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 1,156,799 shares of the technology company’s stock valued at $155,636,000 after acquiring an additional 29,282 shares in the last quarter. ProShare Advisors LLC increased its holdings in International Business Machines by 10.3% during the 2nd quarter. ProShare Advisors LLC now owns 1,716,277 shares of the technology company’s stock valued at $229,655,000 after acquiring an additional 159,853 shares in the last quarter. Profund Advisors LLC increased its holdings in International Business Machines by 26.6% during the 2nd quarter. Profund Advisors LLC now owns 21,144 shares of the technology company’s stock valued at $2,829,000 after acquiring an additional 4,442 shares in the last quarter. Finally, Payden & Rygel increased its stake in shares of International Business Machines by 187.5% during the 2nd quarter. Payden & Rygel now owns 92,170 shares of the technology company’s stock worth $12,333,000 after purchasing an additional 60,110 shares in the last quarter. 56.16% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

International Business Machines stock opened at $152.69 on Monday. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $153.50. The firm has a 50 day moving average price of $144.33 and a 200 day moving average price of $138.97. The company has a market cap of $139.42 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 4.16 and a beta of 0.76. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.86 and a current ratio of 0.91.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.08. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The company had revenue of $14.75 billion during the quarter, compared to analysts’ expectations of $14.73 billion. During the same period in the previous year, the company earned $1.81 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that International Business Machines Co. will post 9.45 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, November 9th. International Business Machines’s payout ratio is currently 88.06%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. BMO Capital Markets raised their price target on International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research report on Thursday, October 26th. Wedbush reiterated a “neutral” rating and set a $140.00 price objective on shares of International Business Machines in a research report on Monday, November 13th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, Morgan Stanley lowered their price target on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, October 17th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $149.09.

International Business Machines Company Profile

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.