Cullen Frost Bankers Inc. Sells 4,119 Shares of International Business Machines Co. (NYSE:IBM)

Cullen Frost Bankers Inc. lowered its stake in International Business Machines Co. (NYSE:IBM) by 4.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 85,227 shares of the technology company’s stock after selling 4,119 shares during the period. Cullen Frost Bankers Inc.’s holdings in International Business Machines were worth $13,939,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of International Business Machines by 0.4% during the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after buying an additional 365,388 shares in the last quarter. Morgan Stanley raised its stake in International Business Machines by 13.4% in the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares in the last quarter. Northern Trust Corp raised its stake in International Business Machines by 4.2% in the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after purchasing an additional 404,948 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in International Business Machines by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after purchasing an additional 61,028 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in International Business Machines by 15.9% in the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock valued at $890,322,000 after purchasing an additional 871,247 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 0.9 %

Shares of NYSE:IBM traded up $1.52 during midday trading on Wednesday, hitting $169.90. 3,473,794 shares of the stock were exchanged, compared to its average volume of 4,933,335. The business’s 50-day moving average price is $185.11 and its 200 day moving average price is $171.88. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The stock has a market capitalization of $156.07 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 4.08 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last announced its earnings results 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 return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 9.92 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.93%. International Business Machines’s payout ratio is 75.20%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. BNP Paribas initiated coverage on International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research report on Wednesday, April 17th. Wedbush lifted their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research 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 company a “buy” rating in a research report on Thursday, March 14th. Three equities 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $181.29.

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.