Baker Avenue Asset Management LP Has $17.85 Million Stock Holdings in International Business Machines Corporation $IBM

Baker Avenue Asset Management LP lowered its position in International Business Machines Corporation (NYSE:IBM) by 6.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 60,539 shares of the technology company’s stock after selling 3,940 shares during the period. Baker Avenue Asset Management LP’s holdings in International Business Machines were worth $17,846,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Family CFO Inc bought a new stake in shares of International Business Machines during the 2nd quarter valued at about $25,000. Winnow Wealth LLC bought a new stake in International Business Machines in the second quarter worth approximately $27,000. Highline Wealth Partners LLC lifted its stake in International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after buying an additional 51 shares during the period. Dagco Inc. bought a new position in shares of International Business Machines during the 1st quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners grew its position in shares of International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after buying an additional 100 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.0%

Shares of International Business Machines stock opened at $308.09 on Monday. The stock has a market capitalization of $287.98 billion, a P/E ratio of 36.85, a P/E/G ratio of 3.07 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 debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The stock’s 50-day simple moving average is $296.91 and its 200 day simple moving average is $276.54.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.20. The firm had revenue of $16.33 billion during 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 company’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $2.30 earnings per share. As a group, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on IBM shares. Jefferies Financial Group raised their target price on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. BMO Capital Markets raised their price objective on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada lowered their target price on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Morgan Stanley cut their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Finally, Stifel Nicolaus decreased their price target on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $291.08.

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.