Parcion Private Wealth LLC Decreases Stock Position in International Business Machines Co. (NYSE:IBM)

Parcion Private Wealth LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,317 shares of the technology company’s stock after selling 165 shares during the quarter. Parcion Private Wealth LLC’s holdings in International Business Machines were worth $1,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of 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 about $1,019,009,000. Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 97,482 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of International Business Machines by 4.8% in the first quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock worth $341,445,000 after purchasing an additional 81,887 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus raised their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Royal Bank of Canada raised their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group initiated coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.93.

International Business Machines Trading Down 0.9 %

NYSE:IBM traded down $1.85 on Friday, reaching $200.74. The company’s stock had a trading volume of 3,304,491 shares, compared to its average volume of 4,223,954. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market cap of $184.40 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $205.95. The stock has a 50 day moving average price of $189.52 and a 200 day moving average price of $182.51.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm posted $2.18 EPS. International Business Machines’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Co. will post 10.09 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

International Business Machines Profile

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.