China Universal Asset Management Co. Ltd. Sells 1,974 Shares of International Business Machines Corporation $IBM

China Universal Asset Management Co. Ltd. reduced its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 38.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,165 shares of the technology company’s stock after selling 1,974 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in International Business Machines were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. Strategies Wealth Advisors LLC bought a new stake in shares of International Business Machines in the first quarter worth $398,000. Vestmark Advisory Solutions Inc. purchased a new stake in International Business Machines during the first quarter valued at $225,000. Tocqueville Asset Management L.P. lifted its holdings in International Business Machines by 1.1% in the first quarter. Tocqueville Asset Management L.P. now owns 28,728 shares of the technology company’s stock valued at $7,143,000 after acquiring an additional 325 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in International Business Machines by 14.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 145,171 shares of the technology company’s stock worth $36,098,000 after purchasing an additional 18,437 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBM. BMO Capital Markets upped 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 research report on Thursday, October 23rd. Stifel Nicolaus raised their price objective on shares of International Business Machines from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Stock Performance

IBM opened at $309.33 on Monday. The company has a 50 day simple moving average of $299.47 and a two-hundred day simple moving average of $278.32. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $289.14 billion, a P/E ratio of 37.00, a PEG ratio of 3.08 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90.

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

International Business Machines Dividend Announcement

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

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.