Amundi Reduces Holdings in International Business Machines Corporation $IBM

Amundi reduced its stake in International Business Machines Corporation (NYSE:IBM) by 36.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,052,325 shares of the technology company’s stock after selling 2,285,726 shares during the quarter. Amundi owned approximately 0.44% of International Business Machines worth $1,165,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Lifestyle Asset Management Inc. lifted its position in shares of International Business Machines by 1.7% in the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock valued at $632,000 after acquiring an additional 36 shares in the last quarter. Whelan Financial lifted its holdings in International Business Machines by 2.4% in the 2nd quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock worth $450,000 after purchasing an additional 36 shares in the last quarter. Ignite Planners LLC boosted its stake in International Business Machines by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 36 shares during the period. Blue Edge Capital LLC grew its holdings in International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after buying an additional 39 shares in the last quarter. Finally, Johnson Bixby & Associates LLC raised its position in shares of International Business Machines by 3.3% during the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock valued at $356,000 after buying an additional 39 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IBM shares. Morgan Stanley dropped their target price on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Jefferies Financial Group raised their price objective on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. BMO Capital Markets raised their price target on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, Stifel Nicolaus decreased their price objective on International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.08.

International Business Machines Trading Up 1.7%

Shares of IBM opened at $307.82 on Friday. The company’s fifty day simple moving average is $296.44 and its 200-day simple moving average is $276.09. The company has a market cap of $287.73 billion, a P/E ratio of 36.82, a P/E/G ratio of 3.01 and a beta of 0.69. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.30 EPS. As a group, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio is 80.38%.

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.