International Business Machines Co. (NYSE:IBM) Shares Sold by Fiera Capital Corp

Fiera Capital Corp reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 13.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,965 shares of the technology company’s stock after selling 600 shares during the quarter. Fiera Capital Corp’s holdings in International Business Machines were worth $686,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter worth $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Up 1.4 %

Shares of NYSE IBM opened at $204.11 on Thursday. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $204.72. The stock has a market cap of $187.50 billion, a P/E ratio of 23.12, a PEG ratio of 4.50 and a beta of 0.71. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The business’s fifty day simple moving average is $188.33 and its 200-day simple moving average is $182.28.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the company earned $2.18 EPS. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.09 EPS for the current fiscal year.

International Business Machines Announces Dividend

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 given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday. Jefferies Financial Group lifted their target price on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $185.93.

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.