Payden & Rygel Sells 2,400 Shares of International Business Machines Corporation $IBM

Payden & Rygel cut its stake in International Business Machines Corporation (NYSE:IBM) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,900 shares of the technology company’s stock after selling 2,400 shares during the period. International Business Machines comprises about 1.4% of Payden & Rygel’s investment portfolio, making the stock its 23rd largest position. Payden & Rygel’s holdings in International Business Machines were worth $20,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Family CFO Inc bought a new position in shares of International Business Machines in the fourth quarter worth about $25,000. Joseph Group Capital Management bought a new position in shares of International Business Machines in the fourth quarter worth about $28,000. SWAN Capital LLC bought a new position in International Business Machines in the third quarter worth approximately $28,000. DecisionPoint Financial LLC grew its stake in International Business Machines by 1,666.7% in the fourth quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in International Business Machines in the fourth quarter worth approximately $31,000. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Business Machines

In other news, Director Michael Miebach purchased 434 shares of the stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the acquisition, the director owned 434 shares of the company’s stock, valued at approximately $101,265.22. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IBM. Citigroup began coverage on International Business Machines in a research note on Friday, April 10th. They issued a “buy” rating and a $285.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on International Business Machines from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings cut International Business Machines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Dbs Bank raised International Business Machines from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 19th. Finally, UBS Group upgraded shares of International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 target price on the stock in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $294.41.

International Business Machines Stock Up 1.6%

Shares of NYSE IBM opened at $222.84 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $209.45 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58. The stock’s fifty day simple moving average is $239.81 and its two-hundred day simple moving average is $274.15. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $324.90.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS. As a group, analysts expect that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be given a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 3.0%. International Business Machines’s payout ratio is 59.77%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.