Northwestern Mutual Investment Management Company LLC lessened its position in International Business Machines Co. (NYSE:IBM – Get Rating) by 10.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,697 shares of the technology company's stock after selling 4,522 shares during the period. Northwestern Mutual Investment Management Company LLC's holdings in International Business Machines were worth $5,031,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IFS Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $28,000. Parkside Investments LLC acquired a new stake in shares of International Business Machines during the 1st quarter worth about $31,000. Total Clarity Wealth Management Inc. raised its stake in International Business Machines by 537.5% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 255 shares of the technology company's stock worth $34,000 after purchasing an additional 215 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in International Business Machines by 39.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 270 shares of the technology company's stock worth $35,000 after purchasing an additional 77 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in International Business Machines in the 4th quarter worth about $37,000. Institutional investors own 55.22% of the company's stock.
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Insiders Place Their Bets
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the business's stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the sale, the insider now directly owns 22,301,536 shares of the company's stock, valued at approximately $311,106,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company's stock.
International Business Machines Price Performance
Shares of International Business Machines stock traded down $2.42 during midday trading on Tuesday, hitting $130.19. 23,558 shares of the company traded hands, compared to its average volume of 6,348,021. The stock has a market cap of $117.59 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.00 and a beta of 0.85. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88. The firm's fifty day moving average price is $136.47 and its 200-day moving average price is $132.80. International Business Machines Co. has a 12 month low of $114.56 and a 12 month high of $146.00.
International Business Machines (NYSE:IBM – Get Rating) last announced its quarterly earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.02. The company had revenue of $15.54 billion for the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. As a group, sell-side analysts forecast that International Business Machines Co. will post 9.47 earnings per share for the current year.
International Business Machines Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th will be issued a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Tuesday, August 9th. International Business Machines's payout ratio is 107.14%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Bank of America lifted their price objective on shares of International Business Machines from $162.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, April 20th. Morgan Stanley dropped their price objective on shares of 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. Tigress Financial lifted their price objective on shares of International Business Machines from $133.00 to $139.00 and gave the stock a "neutral" rating in a research note on Thursday, April 21st. BMO Capital Markets dropped their target price on shares of International Business Machines from $152.00 to $148.00 in a research report on Tuesday, July 19th. Finally, Credit Suisse Group dropped their target price on shares of International Business Machines from $166.00 to $156.00 and set an "outperform" rating for the company in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $146.10.
About International Business Machines
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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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