Fragasso Financial Advisors Inc Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Fragasso Financial Advisors Inc lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 19.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,275 shares of the technology company’s stock after selling 561 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in International Business Machines were worth $393,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the 1st quarter valued at about $26,000. Naples Money Management LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines in the 4th quarter valued at $31,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada increased their price target on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Jefferies Financial Group increased their target price on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, BNP Paribas started coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $184.93.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $3.41 on Tuesday, hitting $186.72. 3,632,406 shares of the company were exchanged, compared to its average volume of 4,431,698. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a 50-day moving average price of $176.89 and a 200 day moving average price of $180.38. The stock has a market capitalization of $172.00 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $199.18.

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

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.