Fiduciary Financial Group LLC Has $454,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Fiduciary Financial Group LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 8.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,976 shares of the technology company’s stock after selling 185 shares during the quarter. Fiduciary Financial Group LLC’s holdings in International Business Machines were worth $454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors lifted its stake in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank bought a new stake in International Business Machines in the 4th quarter valued at approximately $1,236,176,000. GAMMA Investing LLC lifted its stake in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. bought a new stake in International Business Machines in the 4th quarter valued at approximately $592,746,000. Finally, Northern Trust Corp lifted its stake in International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.2%

IBM opened at $272.13 on Tuesday. International Business Machines Co. has a 1-year low of $166.81 and a 1-year high of $274.22. The stock’s fifty day simple moving average is $248.62 and its 200 day simple moving average is $242.46. 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 stock has a market cap of $252.92 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.47%. International Business Machines’s dividend payout ratio is 115.66%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $250.31.

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.