International Business Machines Co. (NYSE:IBM) Shares Sold by Baron Financial Group LLC

Baron Financial Group LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 17.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,753 shares of the technology company’s stock after selling 596 shares during the period. Baron Financial Group LLC’s holdings in International Business Machines were worth $684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Compass Financial Services Inc purchased a new position in shares of International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $35,000. Tacita Capital Inc increased its position in International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after buying an additional 122 shares during the period. Finally, Measured Risk Portfolios Inc. acquired a new position in International Business Machines during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several research analyst reports. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group reissued a “sell” rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $249.06.

International Business Machines Trading Up 0.8%

Shares of IBM stock opened at $268.95 on Friday. The stock has a market cap of $249.96 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a fifty-two week low of $166.81 and a fifty-two week high of $270.17. The business has a fifty day simple moving average of $248.17 and a 200-day simple moving average of $241.98.

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

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.50%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 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.