International Business Machines Co. (NYSE:IBM) Position Decreased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI trimmed its position in International Business Machines Co. (NYSE:IBM) by 24.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,901 shares of the technology company’s stock after selling 4,248 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in International Business Machines were worth $2,464,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Heartland Bank & Trust Co purchased a new stake in shares of International Business Machines in the first quarter worth approximately $807,000. Montchanin Asset Management LLC purchased a new position in International Business Machines during the first quarter valued at approximately $229,000. New Covenant Trust Company N.A. purchased a new position in International Business Machines during the first quarter valued at approximately $125,000. iA Global Asset Management Inc. purchased a new position in International Business Machines during the first quarter valued at approximately $663,000. Finally, Beacon Capital Management LLC grew its position in International Business Machines by 41.6% during the first quarter. Beacon Capital Management LLC now owns 2,411 shares of the technology company’s stock valued at $460,000 after purchasing an additional 708 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM stock traded down $0.54 on Friday, reaching $189.12. 4,545,211 shares of the company were exchanged, compared to its average volume of 4,433,434. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $199.18. The stock’s fifty day moving average price is $176.28 and its 200 day moving average price is $179.91. The firm has a market capitalization of $174.21 billion, a PE ratio of 21.10, a PEG ratio of 4.29 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 earnings per share. On average, research analysts anticipate that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.53%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective on the stock. Stifel Nicolaus lifted their target price on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. UBS Group lifted their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Finally, Wedbush lifted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $184.93.

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.