International Business Machines Co. (NYSE:IBM) Shares Sold by 9258 Wealth Management LLC

9258 Wealth Management LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,025 shares of the technology company’s stock after selling 128 shares during the period. 9258 Wealth Management LLC’s holdings in International Business Machines were worth $869,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mosley Wealth Management acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $312,000. Hodges Capital Management Inc. boosted its position in International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY grew its stake in shares of International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of International Business Machines during the fourth quarter valued at $3,017,000. Finally, Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after purchasing an additional 97,482 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Jefferies Financial Group raised their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective 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. Royal Bank of Canada upped their target price 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. Finally, The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Three investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $185.93.

International Business Machines Trading Down 1.1 %

International Business Machines stock traded down $2.25 during midday trading on Thursday, reaching $201.86. The stock had a trading volume of 1,118,736 shares, compared to its average volume of 4,216,994. The firm has a market cap of $185.43 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 4.50 and a beta of 0.71. The firm’s fifty day simple moving average is $188.33 and its two-hundred day simple moving average is $182.28. 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 Co. has a twelve month low of $135.87 and a twelve month high of $205.95.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the company posted $2.18 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Co. will post 10.09 EPS 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 given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, August 9th. International Business Machines’s payout ratio is currently 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.