Selective Wealth Management Inc. Sells 139 Shares of International Business Machines Co. (NYSE:IBM)

Selective Wealth Management Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,874 shares of the technology company’s stock after selling 139 shares during the period. International Business Machines makes up about 0.6% of Selective Wealth Management Inc.’s holdings, making the stock its 27th largest holding. Selective Wealth Management Inc.’s holdings in International Business Machines were worth $1,383,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IBM. Outlook Wealth Advisors LLC bought a new position in shares of International Business Machines in the 1st quarter valued at approximately $212,000. Abacus Planning Group Inc. raised its position in shares of International Business Machines by 3.8% in the first quarter. Abacus Planning Group Inc. now owns 3,402 shares of the technology company’s stock valued at $846,000 after purchasing an additional 123 shares during the period. Tilia Fiduciary Partners Inc. acquired a new stake in shares of International Business Machines in the first quarter worth $1,697,000. Park Avenue Securities LLC boosted its holdings in shares of International Business Machines by 19.3% during the 1st quarter. Park Avenue Securities LLC now owns 23,895 shares of the technology company’s stock worth $5,942,000 after buying an additional 3,871 shares during the period. Finally, OLD National Bancorp IN grew its stake in International Business Machines by 0.5% in the 1st quarter. OLD National Bancorp IN now owns 12,972 shares of the technology company’s stock valued at $3,226,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBM. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Royal Bank of Canada lifted their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, 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%

IBM stock opened at $268.95 on Monday. The business has a fifty day moving average of $248.17 and a 200-day moving average of $242.11. The company has a market cap of $249.96 billion, a P/E ratio of 41.96, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a twelve month low of $166.81 and a twelve month high of $270.17. 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 (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.50%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

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.