Thoroughbred Financial Services LLC Sells 4,278 Shares of International Business Machines Co. (NYSE:IBM)

Thoroughbred Financial Services LLC cut its position in shares of International Business Machines Co. (NYSE:IBM) by 48.8% in the first quarter, HoldingsChannel reports. The firm owned 4,480 shares of the technology company’s stock after selling 4,278 shares during the period. Thoroughbred Financial Services LLC’s holdings in International Business Machines were worth $855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after purchasing an additional 61,028 shares in the last quarter. Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter valued at $1,019,009,000. Dimensional Fund Advisors LP increased its holdings in shares of International Business Machines by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after acquiring an additional 97,482 shares during the period. International Assets Investment Management LLC increased its holdings in shares of International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after acquiring an additional 2,636,386 shares during the period. Finally, LSV Asset Management increased its holdings in shares of International Business Machines by 4.8% in the 1st quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock valued at $341,445,000 after acquiring an additional 81,887 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group lifted their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. dropped their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus restated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research note on Thursday, May 16th. The Goldman Sachs Group started coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Price Performance

NYSE:IBM traded up $2.52 during trading hours on Tuesday, hitting $185.40. 1,140,444 shares of the stock were exchanged, compared to its average volume of 4,417,305. International Business Machines Co. has a 52-week low of $133.10 and a 52-week high of $199.18. The firm’s fifty day moving average price is $171.43 and its 200 day moving average price is $177.77. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company has a market cap of $170.31 billion, a P/E ratio of 21.04, a P/E/G ratio of 4.51 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a $1.67 dividend. The ex-dividend date was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.60%. International Business Machines’s dividend payout ratio is 75.65%.

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.