Meeder Asset Management Inc. Cuts Stake in International Business Machines Co. (NYSE:IBM)

Meeder Asset Management Inc. reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 76.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 406 shares of the technology company’s stock after selling 1,344 shares during the period. Meeder Asset Management Inc.’s holdings in International Business Machines were worth $70,000 as of its most recent SEC filing.

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

International Business Machines Stock Performance

Shares of IBM opened at $214.79 on Friday. The company has a 50-day simple moving average of $192.83 and a 200-day simple moving average of $183.39. 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 company has a market capitalization of $197.85 billion, a PE ratio of 24.33, a P/E/G ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $216.09.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the firm posted $2.18 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Analyst Upgrades and Downgrades

Several research firms have commented on IBM. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets boosted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Evercore ISI upped their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $188.60.

International Business Machines Company 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.