Fisher Asset Management LLC Sells 2,729 Shares of International Business Machines Corporation $IBM

Fisher Asset Management LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM) by 13.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,301 shares of the technology company’s stock after selling 2,729 shares during the period. Fisher Asset Management LLC’s holdings in International Business Machines were worth $5,395,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brooklyn Investment Group boosted its stake in shares of International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock valued at $1,647,000 after purchasing an additional 1,630 shares in the last quarter. Vise Technologies Inc. purchased a new stake in International Business Machines during the second quarter worth $16,565,000. Edgar Lomax Co. VA boosted its position in International Business Machines by 5.7% during the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after acquiring an additional 12,690 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after acquiring an additional 1,913,708 shares during the period. Finally, Thames Capital Management LLC bought a new position in shares of International Business Machines in the 2nd quarter worth $2,710,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.7%

IBM stock opened at $307.82 on Friday. The stock has a market capitalization of $287.73 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 3.01 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $214.50 and a 52 week high of $324.90. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The firm has a 50 day moving average of $296.44 and a 200 day moving average of $276.09.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same period in the prior year, the company earned $2.30 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a $1.68 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio is presently 80.38%.

Analyst Ratings Changes

A number of brokerages recently weighed in on IBM. Morgan Stanley dropped their price objective on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. BMO Capital Markets raised their price target on shares of International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Oppenheimer started coverage on shares of International Business Machines in a research report on Friday, November 21st. They set an “outperform” rating and a $360.00 target price for the company. Finally, Sanford C. Bernstein initiated coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target on the stock. 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $291.08.

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.