GPS Wealth Strategies Group LLC Trims Holdings in International Business Machines Co. (NYSE:IBM)

GPS Wealth Strategies Group LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 28.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,995 shares of the technology company’s stock after selling 794 shares during the period. GPS Wealth Strategies Group LLC’s holdings in International Business Machines were worth $496,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina boosted its holdings 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 buying an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $242,000. Truist Financial Corp grew its stake in shares of 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 buying an additional 49,591 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in International Business Machines during the fourth quarter worth approximately $3,000,000. Finally, Magnolia Private Wealth LLC purchased a new stake in International Business Machines during the 1st quarter valued at $239,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.3%

Shares of NYSE:IBM opened at $280.69 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $167.23 and a 12-month high of $283.06. The business has a 50 day moving average of $251.46 and a two-hundred day moving average of $243.34. The company has a market capitalization of $260.87 billion, a PE ratio of 43.79, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.68 EPS. As a group, analysts forecast 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 was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.39%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Royal Bank of Canada increased their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $250.31.

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.