Channing Capital Management LLC Sells 7,530 Shares of International Business Machines Co. (NYSE:IBM)

Channing Capital Management LLC cut its position in International Business Machines Co. (NYSE:IBM) by 18.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 33,915 shares of the technology company’s stock after selling 7,530 shares during the period. Channing Capital Management LLC’s holdings in International Business Machines were worth $5,547,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Naples Money Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc bought a new position in International Business Machines during the third quarter worth $31,000. Stone House Investment Management LLC increased its holdings in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. raised its position in shares of International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares during the period. Finally, Cordant Inc. lifted its stake in shares of International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after buying an additional 226 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $2.44 during midday trading on Monday, hitting $168.15. The stock had a trading volume of 2,913,632 shares, compared to its average volume of 4,952,774. The company’s 50-day moving average price is $185.75 and its 200-day moving average price is $171.44. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $154.46 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.20%.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a research note on Friday, January 19th. BNP Paribas assumed coverage on International Business Machines in a research note on Thursday. They set an “underperform” rating and a $145.00 target price on the stock. UBS Group boosted their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Wedbush upped their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Bank of America lifted their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $181.29.

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.