BlueSky Wealth Advisors LLC Lowers Stake in International Business Machines Corporation (NYSE:IBM)

BlueSky Wealth Advisors LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 10.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,863 shares of the technology company’s stock after selling 323 shares during the quarter. BlueSky Wealth Advisors LLC’s holdings in International Business Machines were worth $712,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IBM. Capital World Investors lifted its stake in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank purchased a new stake in International Business Machines in the fourth quarter worth about $1,236,176,000. GAMMA Investing LLC lifted its stake in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. Raymond James Financial Inc. purchased a new stake in International Business Machines in the fourth quarter worth about $592,746,000. Finally, Northern Trust Corp lifted its position in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. UBS Group reiterated a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $250.31.

International Business Machines Price Performance

Shares of NYSE IBM opened at $282.96 on Wednesday. The stock has a market capitalization of $262.98 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 5.92 and a beta of 0.66. International Business Machines Corporation has a 12 month low of $168.38 and a 12 month high of $285.26. The firm’s 50 day simple moving average is $254.78 and its 200-day simple moving average is $244.55. 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 (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts expect that International Business Machines Corporation 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 paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.37%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

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.