International Business Machines Corporation (NYSE:IBM) Shares Sold by Balefire LLC

Balefire LLC trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 12.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,439 shares of the technology company’s stock after selling 493 shares during the period. Balefire LLC’s holdings in International Business Machines were worth $855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Penobscot Investment Management Company Inc. lifted its holdings in International Business Machines by 5.5% during the first quarter. Penobscot Investment Management Company Inc. now owns 9,105 shares of the technology company’s stock valued at $2,264,000 after purchasing an additional 477 shares in the last quarter. Oak Hill Wealth Advisors LLC increased its stake in shares of International Business Machines by 97.9% during the first quarter. Oak Hill Wealth Advisors LLC now owns 6,175 shares of the technology company’s stock worth $1,535,000 after purchasing an additional 3,054 shares in the last quarter. Western Wealth Management LLC raised its position in shares of International Business Machines by 8.0% during the 1st quarter. Western Wealth Management LLC now owns 6,584 shares of the technology company’s stock worth $1,637,000 after purchasing an additional 487 shares during the last quarter. Sabal Trust CO lifted its stake in International Business Machines by 50.0% in the 1st quarter. Sabal Trust CO now owns 100,385 shares of the technology company’s stock valued at $24,962,000 after buying an additional 33,453 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in International Business Machines by 3.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 179,625 shares of the technology company’s stock worth $44,666,000 after buying an additional 5,693 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IBM shares. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Bank of America upped their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Finally, Morgan Stanley reduced their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $253.75.

International Business Machines Price Performance

International Business Machines stock opened at $291.38 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company has a 50-day moving average price of $260.83 and a 200 day moving average price of $246.71. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $296.16. The stock has a market cap of $270.81 billion, a P/E ratio of 50.15, a PEG ratio of 6.17 and a beta of 0.66.

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

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.31%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

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.