DekaBank Deutsche Girozentrale Sells 102,499 Shares of International Business Machines Co. (NYSE:IBM)

DekaBank Deutsche Girozentrale trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 7.6% in the second quarter, Holdings Channel reports. The fund owned 1,252,937 shares of the technology company’s stock after selling 102,499 shares during the period. DekaBank Deutsche Girozentrale’s holdings in International Business Machines were worth $214,998,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IBM. FPC Investment Advisory Inc. bought a new position in International Business Machines during the 1st quarter worth about $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines in the 4th quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $211.61 on Friday. The company has a market capitalization of $194.92 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $212.65. The company has a 50-day simple moving average of $192.05 and a 200 day simple moving average of $183.18.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. On average, sell-side analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.16%. International Business Machines’s payout ratio is presently 75.65%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBM. Royal Bank of Canada increased their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group boosted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Stifel Nicolaus upped their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group started coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $188.60.

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.