Lazari Capital Management Inc. Decreases Stake in International Business Machines Corporation (NYSE:IBM)

Lazari Capital Management Inc. reduced its stake in International Business Machines Corporation (NYSE:IBM) by 7.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,784 shares of the technology company’s stock after selling 139 shares during the quarter. Lazari Capital Management Inc.’s holdings in International Business Machines were worth $444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vision Financial Markets LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $35,000. Tacita Capital Inc raised 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 worth $42,000 after buying an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the 4th quarter worth approximately $43,000. Finally, Park Square Financial Group LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IBM shares. Bank of America raised their price target on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. UBS Group reaffirmed a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $253.75.

International Business Machines Price Performance

Shares of NYSE IBM opened at $289.25 on Tuesday. The firm has a market cap of $268.83 billion, a PE ratio of 49.78, a PEG ratio of 5.90 and a beta of 0.66. The firm has a fifty day moving average of $258.71 and a 200 day moving average of $246.07. 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 $170.41 and a one year high of $292.95.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 EPS. As a group, research analysts predict that International Business Machines Corporation will post 10.78 EPS 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 $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 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.