First Horizon Advisors Inc. Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

First Horizon Advisors Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,118 shares of the technology company’s stock after selling 5,565 shares during the period. International Business Machines makes up approximately 1.1% of First Horizon Advisors Inc.’s portfolio, making the stock its 14th largest position. First Horizon Advisors Inc.’s holdings in International Business Machines were worth $33,711,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IBM. Naples Money Management LLC acquired a new position in International Business Machines during the fourth quarter worth about $28,000. Briaud Financial Planning Inc acquired a new position in International Business Machines during the third quarter worth about $31,000. Stone House Investment Management LLC grew its position in International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares during the period. Financial Gravity Asset Management Inc. grew its position in International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 91 shares during the period. Finally, Cordant Inc. grew its position in International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after buying an additional 226 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein increased their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Wedbush raised their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. Morgan Stanley cut their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $181.29.

International Business Machines Stock Down 0.2 %

International Business Machines stock traded down $0.37 during midday trading on Thursday, hitting $164.06. 1,838,249 shares of the stock were exchanged, compared to its average volume of 4,973,333. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The firm has a market cap of $150.40 billion, a P/E ratio of 18.53, a P/E/G ratio of 4.08 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The company has a 50 day moving average price of $186.54 and a two-hundred day moving average price of $170.87.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. On average, sell-side analysts predict that International Business Machines Co. will post 9.94 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

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.