Morningstar Investment Management LLC Sells 723 Shares of International Business Machines Co. (NYSE:IBM)

Morningstar Investment Management LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 21.8% in the second quarter, Holdings Channel reports. The firm owned 2,591 shares of the technology company’s stock after selling 723 shares during the quarter. Morningstar Investment Management LLC’s holdings in International Business Machines were worth $448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines during the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its stake in International Business Machines by 164.0% during the first 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. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock opened at $211.61 on Friday. The stock 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. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $212.65. The stock’s 50 day moving average price is $192.05 and its two-hundred day moving average price is $183.18. 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 (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm earned $2.18 earnings per share. International Business Machines’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets boosted their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Jefferies Financial Group upped their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $188.60.

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.