Boltwood Capital Management Sells 90 Shares of International Business Machines Co. (NYSE:IBM)

Boltwood Capital Management reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.2% in the first quarter, HoldingsChannel.com reports. The fund owned 2,692 shares of the technology company’s stock after selling 90 shares during the quarter. Boltwood Capital Management’s holdings in International Business Machines were worth $669,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IBM. Treasurer of the State of North Carolina raised its position in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after purchasing an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in International Business Machines in the 4th quarter worth $242,000. Truist Financial Corp raised its position in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. Mufg Securities Americas Inc. purchased a new position in International Business Machines in the 4th quarter worth $3,000,000. Finally, QRG Capital Management Inc. raised its position in International Business Machines by 7.5% in the 4th quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock worth $33,118,000 after purchasing an additional 10,467 shares during the period. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Oppenheimer initiated coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $249.06.

International Business Machines Stock Up 0.1%

Shares of IBM stock opened at $265.34 on Thursday. International Business Machines Co. has a 12 month low of $165.78 and a 12 month high of $269.28. The stock has a market cap of $246.61 billion, a P/E ratio of 41.39, a P/E/G ratio of 5.81 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a 50 day simple moving average of $247.45 and a two-hundred day simple moving average of $240.98.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same period in the prior year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.53%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

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.