Oak Thistle LLC Has $314,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Oak Thistle LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 50.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,644 shares of the technology company’s stock after selling 1,668 shares during the period. Oak Thistle LLC’s holdings in International Business Machines were worth $314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Naples Money Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Financial Gravity Asset Management Inc. raised its holdings in shares of International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 91 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock traded up $2.15 during trading on Monday, reaching $175.10. 3,306,813 shares of the stock were exchanged, compared to its average volume of 4,556,641. International Business Machines Co. has a twelve month low of $131.55 and a twelve month high of $199.18. The company has a market capitalization of $160.85 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71. The stock has a 50 day simple moving average of $169.95 and a 200-day simple moving average of $176.57. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping 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 business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the business earned $1.36 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 3.81%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wedbush increased their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. UBS Group increased their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Stifel Nicolaus restated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. Finally, BNP Paribas initiated coverage on International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $182.53.

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.