Prime Capital Investment Advisors LLC Sells 10,648 Shares of International Business Machines Co. (NYSE:IBM)

Prime Capital Investment Advisors LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 22.8% in the second quarter, Holdings Channel reports. The fund owned 36,041 shares of the technology company’s stock after selling 10,648 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in International Business Machines were worth $6,233,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the last quarter. Norges Bank acquired a new stake in International Business Machines in the fourth quarter valued at $1,019,009,000. Price T Rowe Associates Inc. MD increased its holdings in International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the period. LSV Asset Management increased its holdings in International Business Machines by 4.8% in the first quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock valued at $341,445,000 after purchasing an additional 81,887 shares during the period. Finally, California State Teachers Retirement System increased its holdings in International Business Machines by 1.2% in the first quarter. California State Teachers Retirement System now owns 1,503,981 shares of the technology company’s stock valued at $287,200,000 after purchasing an additional 17,715 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IBM has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Jefferies Financial Group increased their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price target on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $188.60.

International Business Machines Stock Performance

Shares of IBM opened at $214.79 on Monday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a 50-day moving average of $192.83 and a 200-day moving average of $183.37. The company has a market cap of $197.85 billion, a PE ratio of 24.33, a P/E/G ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a one year low of $135.87 and a one year high of $216.09.

International Business Machines (NYSE:IBM) last issued 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 during 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% compared to the same quarter last year. During the same period last year, the business posted $2.18 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 annualized dividend and a yield of 3.11%. International Business Machines’s payout ratio is 75.65%.

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.