GSB Wealth Management LLC Cuts Stock Position in International Business Machines Corporation (NYSE:IBM)

GSB Wealth Management LLC decreased its holdings in International Business Machines Corporation (NYSE:IBM) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,388 shares of the technology company’s stock after selling 317 shares during the quarter. GSB Wealth Management LLC’s holdings in International Business Machines were worth $3,329,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines in the fourth quarter valued at $35,000. Tacita Capital Inc raised its stake in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after buying an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines during the 4th quarter worth about $43,000. Finally, Park Square Financial Group LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.4%

International Business Machines stock opened at $282.96 on Wednesday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a one year low of $168.38 and a one year high of $284.79. The company has a 50-day simple moving average of $254.78 and a 200-day simple moving average of $244.55. The firm has a market capitalization of $262.98 billion, a P/E ratio of 48.70, a P/E/G ratio of 5.92 and a beta of 0.66.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. International Business Machines’s dividend payout ratio is 115.66%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Morgan Stanley dropped their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $250.31.

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.