Core Wealth Partners LLC Sells 383 Shares of International Business Machines Co. (NYSE:IBM)

Core Wealth Partners LLC trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,428 shares of the technology company’s stock after selling 383 shares during the period. International Business Machines accounts for 0.9% of Core Wealth Partners LLC’s portfolio, making the stock its 21st largest holding. Core Wealth Partners LLC’s holdings in International Business Machines were worth $1,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Naples Money Management LLC bought a new stake in International Business Machines in the 4th quarter valued at $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines in the 4th quarter valued at $31,000. Financial Gravity Asset Management Inc. increased its holdings in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.9 %

Shares of NYSE:IBM traded down $1.57 during trading hours on Thursday, hitting $175.73. The company’s stock had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. International Business Machines Co. has a 52 week low of $131.55 and a 52 week 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 1.09. The company has a market capitalization of $161.43 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 4.37 and a beta of 0.71. The firm’s fifty day moving average price is $169.55 and its 200 day moving average price is $176.76.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 EPS. As a group, research analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IBM shares. Jefferies Financial Group dropped their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a research note on Wednesday, May 22nd. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. BMO Capital Markets dropped their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Finally, Bank of America lifted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines 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.