Cullen Frost Bankers Inc. Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Cullen Frost Bankers Inc. lowered its stake in International Business Machines Co. (NYSE:IBM) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,733 shares of the technology company’s stock after selling 1,543 shares during the period. Cullen Frost Bankers Inc.’s holdings in International Business Machines were worth $14,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in International Business Machines by 6.7% during 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 purchasing an additional 5,546,855 shares during the last quarter. Norges Bank bought a new position in shares of International Business Machines during the 4th quarter valued at $1,019,009,000. Dimensional Fund Advisors LP lifted its holdings in shares of International Business Machines by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after buying an additional 97,482 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Business Machines by 151.6% during the 1st 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 buying an additional 2,118,165 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of International Business Machines by 4.8% during the 1st quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock valued at $341,445,000 after buying an additional 81,887 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets increased their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus raised 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 assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $185.93.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $1.85 during trading on Friday, reaching $200.74. 3,304,491 shares of the stock traded hands, compared to its average volume of 4,223,954. The company has a market capitalization of $184.40 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 4.50 and a beta of 0.71. The business has a fifty day simple moving average of $189.52 and a two-hundred day simple moving average of $182.51. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $205.95.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 10.09 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a $1.67 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.33%. International Business Machines’s dividend payout ratio is currently 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.