International Business Machines Corporation (NYSE:IBM) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC lessened its stake in shares of International Business Machines Corporation (NYSE:IBM) by 2.6% during the first quarter, HoldingsChannel reports. The firm owned 14,135 shares of the technology company’s stock after selling 383 shares during the period. Stonegate Investment Group LLC’s holdings in International Business Machines were worth $3,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of IBM. Vision Financial Markets LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth $35,000. Tacita Capital Inc lifted its position in shares of 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 purchasing an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Finally, Park Square Financial Group LLC acquired a new stake in International Business Machines during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $280.67 on Friday. The stock has a market capitalization of $260.85 billion, a PE ratio of 48.31, a price-to-earnings-growth ratio of 5.95 and a beta of 0.66. The business’s fifty day moving average price is $257.71 and its 200 day moving average price is $245.55. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $286.91.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results 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 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period last year, the firm posted $1.68 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were 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 dividend on an annualized basis and a yield of 2.39%. International Business Machines’s payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada upped their target price on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $253.75.

International Business Machines Company 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.