Convergence Investment Partners LLC Lowers Position in International Business Machines Co. (NYSE:IBM)

Convergence Investment Partners LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,339 shares of the technology company’s stock after selling 1,118 shares during the period. International Business Machines comprises approximately 1.8% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 9th largest holding. Convergence Investment Partners LLC’s holdings in International Business Machines were worth $3,490,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Desjardins Global Asset Management Inc. increased its holdings in shares of International Business Machines by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in shares of International Business Machines by 2.8% during the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after acquiring an additional 55 shares in the last quarter. Avion Wealth increased its holdings in shares of International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after acquiring an additional 56 shares in the last quarter. Northwest Capital Management Inc increased its holdings in shares of International Business Machines by 5.0% during the fourth quarter. Northwest Capital Management Inc now owns 1,230 shares of the technology company’s stock valued at $201,000 after acquiring an additional 59 shares in the last quarter. Finally, Financial Security Advisor Inc. increased its holdings in shares of International Business Machines by 2.7% during the fourth quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock valued at $384,000 after acquiring an additional 61 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reduced their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Wedbush increased their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America increased their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $184.08.

International Business Machines Stock Performance

Shares of IBM stock traded down $1.78 during trading hours on Friday, reaching $167.13. 8,983,796 shares of the company traded hands, compared to its average volume of 3,906,041. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93. The company has a market cap of $153.21 billion, a P/E ratio of 18.93, a P/E/G ratio of 3.30 and a beta of 0.70. The firm has a 50-day moving average price of $187.60 and a 200 day moving average price of $170.34.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 9.99 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.97%. International Business Machines’s payout ratio is currently 75.20%.

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.