Fiduciary Group LLC Sells 279 Shares of International Business Machines Co. (NYSE:IBM)

Fiduciary Group LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,323 shares of the technology company’s stock after selling 279 shares during the period. Fiduciary Group LLC’s holdings in International Business Machines were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. Norges Bank bought a new position in shares of International Business Machines in the 4th quarter valued at about $1,019,009,000. Price T Rowe Associates Inc. MD increased its position in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. LSV Asset Management increased its stake in shares of International Business Machines by 4.8% during the 1st quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock worth $341,445,000 after purchasing an additional 81,887 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of International Business Machines by 1.2% in the first quarter. California State Teachers Retirement System now owns 1,503,981 shares of the technology company’s stock valued at $287,200,000 after buying an additional 17,715 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of IBM opened at $214.79 on Friday. The company has a market capitalization of $197.85 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $216.09. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business has a 50-day moving average of $192.83 and a 200-day moving average of $183.40.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (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 for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm earned $2.18 earnings per share. International Business Machines’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group boosted 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 report on Thursday, July 25th. 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 target on the stock. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $188.60.

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.