Cullen Capital Management LLC Sells 14,617 Shares of International Business Machines Corporation $IBM

Cullen Capital Management LLC decreased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 173,053 shares of the technology company’s stock after selling 14,617 shares during the quarter. Cullen Capital Management LLC’s holdings in International Business Machines were worth $51,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IBM. Family CFO Inc acquired a new position in shares of International Business Machines during the second quarter valued at about $25,000. Winnow Wealth LLC bought a new stake in International Business Machines in the 2nd quarter valued at about $27,000. Silicon Valley Capital Partners raised its stake in 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. Highline Wealth Partners LLC boosted its holdings 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 worth $33,000 after acquiring an additional 51 shares in the last quarter. Finally, Copia Wealth Management grew its stake in International Business Machines by 57.6% in the second quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock valued at $40,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Down 0.5%

International Business Machines stock opened at $309.33 on Monday. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two 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 firm’s 50-day simple moving average is $299.47 and its 200 day simple moving average is $278.32. The stock has a market cap of $289.14 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.69.

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

International Business Machines Announces Dividend

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

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent research reports. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Oppenheimer began coverage on shares of International Business Machines in a research note on Friday, November 21st. They issued an “outperform” rating and a $360.00 price objective on the stock. Royal Bank Of Canada decreased their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Wednesday. Finally, UBS Group reiterated a “sell” rating on shares of International Business Machines in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and an average price target of $293.38.

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.