RBA Wealth Management LLC Sells 74 Shares of International Business Machines Co. (NYSE:IBM)

RBA Wealth Management LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,977 shares of the technology company’s stock after selling 74 shares during the quarter. RBA Wealth Management LLC’s holdings in International Business Machines were worth $569,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Naples Money Management LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at $31,000. Financial Synergies Wealth Advisors Inc. increased its stake in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of International Business Machines by 54.6% in the first quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock valued at $42,000 after buying an additional 77 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Thursday, May 16th. Jefferies Financial Group lowered their target price on 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. JPMorgan Chase & Co. lowered their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. BNP Paribas began coverage on International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Finally, UBS Group lifted their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $182.53.

International Business Machines Stock Down 0.9 %

Shares of NYSE:IBM traded down $1.57 during trading on Thursday, hitting $175.73. 1,649,049 shares of the company’s stock traded hands, 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 current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company has a market cap of $161.43 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 4.37 and a beta of 0.71. The company has a 50-day moving average price of $169.55 and a 200-day moving average price of $176.76.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s revenue for the quarter 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 forecast 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. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. This is a boost 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%.

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.