Insight Folios Inc Sells 8,598 Shares of International Business Machines Co. (NYSE:IBM)

Insight Folios Inc lowered its stake in International Business Machines Co. (NYSE:IBM) by 19.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,978 shares of the technology company’s stock after selling 8,598 shares during the quarter. International Business Machines comprises approximately 2.8% of Insight Folios Inc’s holdings, making the stock its 8th largest holding. Insight Folios Inc’s holdings in International Business Machines were worth $6,870,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. raised its position in shares of International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after buying an additional 54 shares in the last quarter. Arden Trust Co raised its position in shares of International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after buying an additional 54 shares in the last quarter. Calamos Wealth Management LLC raised its position in shares of International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares in the last quarter. Avion Wealth raised its position in shares of International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after buying an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research note on Thursday, May 16th. 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. BMO Capital Markets decreased their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $182.53.

International Business Machines Trading Down 0.9 %

Shares of NYSE:IBM traded down $1.57 during mid-day trading on Thursday, reaching $175.73. 1,649,049 shares of the company’s stock were exchanged, compared to its average volume of 3,576,998. The firm has a market capitalization of $161.43 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 4.37 and a beta of 0.71. The business’s fifty day moving average price is $169.55 and its 200-day moving average price is $176.76. 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 Co. has a twelve month low of $131.55 and a twelve month high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 earnings per share. On average, research analysts predict that International Business Machines Co. will post 9.9 EPS for the current fiscal 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 issued a $1.67 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 3.80%. International Business Machines’s payout ratio is presently 75.65%.

International Business Machines Company 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.