OMERS ADMINISTRATION Corp Reduces Position in International Business Machines Corporation $IBM

OMERS ADMINISTRATION Corp cut its position in shares of International Business Machines Corporation (NYSE:IBM) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,605 shares of the technology company’s stock after selling 8,800 shares during the period. OMERS ADMINISTRATION Corp’s holdings in International Business Machines were worth $13,805,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. CVA Family Office LLC boosted its stake in shares of International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after purchasing an additional 33 shares during the period. Foster Group Inc. boosted its stake in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after purchasing an additional 33 shares during the period. New Covenant Trust Company N.A. boosted its position in International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after buying an additional 33 shares during the period. McGowan Group Asset Management Inc. boosted its position in International Business Machines by 1.2% in the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after buying an additional 33 shares during the period. Finally, Altman Advisors Inc. boosted its position in International Business Machines by 0.3% in the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company’s stock valued at $2,802,000 after buying an additional 34 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.5%

NYSE:IBM opened at $268.19 on Tuesday. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The firm has a market cap of $252.07 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.82 and a beta of 0.66. The firm has a 50-day simple moving average of $250.42 and a 200-day simple moving average of $269.84.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. During the same quarter in the previous year, the business posted $1.60 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Corporation will post 12.38 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a $1.69 dividend. The ex-dividend date was Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio (DPR) is presently 59.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IBM shares. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Wedbush set a $350.00 price objective on shares of International Business Machines in a research report on Tuesday, June 2nd. Royal Bank Of Canada reissued an “outperform” rating on shares of International Business Machines in a research report on Thursday, May 28th. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, Needham & Company LLC started coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.17.

About International Business Machines

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.