CRA Financial Services LLC Sells 373 Shares of International Business Machines Co. (NYSE:IBM)

CRA Financial Services LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,626 shares of the technology company’s stock after selling 373 shares during the quarter. CRA Financial Services LLC’s holdings in International Business Machines were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of IBM. Vision Financial Markets LLC bought a new stake in International Business Machines during the 4th quarter valued at approximately $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines during the 4th quarter valued at approximately $35,000. Tacita Capital Inc boosted its position in International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. bought a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC bought a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 1.5%

Shares of International Business Machines stock opened at $276.84 on Friday. The company has a market capitalization of $257.29 billion, a P/E ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a fifty day moving average of $252.60 and a 200 day moving average of $243.67. International Business Machines Co. has a fifty-two week low of $167.23 and a fifty-two week high of $283.06.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.43%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is currently 115.66%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Bank of America lifted their price objective on International Business Machines from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, June 9th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $250.31.

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.