New York Life Investment Management LLC Reduces Position in International Business Machines Co. (NYSE:IBM)

New York Life Investment Management LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,579 shares of the technology company’s stock after selling 242 shares during the quarter. New York Life Investment Management LLC’s holdings in International Business Machines were worth $23,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. Norges Bank purchased a new position in shares of International Business Machines in the fourth quarter worth approximately $1,019,009,000. Dimensional Fund Advisors LP boosted its holdings in shares of International Business Machines by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after buying an additional 97,482 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares during the period. Finally, LSV Asset Management increased its holdings in International Business Machines by 4.8% during the first quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock valued at $341,445,000 after buying an additional 81,887 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

IBM opened at $200.87 on Friday. The stock has a market capitalization of $184.52 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 4.50 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $205.95. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a fifty day moving average of $189.52 and a 200 day moving average of $182.51.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 earnings per share. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.09 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IBM. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Stifel Nicolaus boosted their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on shares of International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $185.93.

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.