Buffington Mohr McNeal Cuts Stock Position in International Business Machines Corporation (NYSE:IBM)

Buffington Mohr McNeal trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 57.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,063 shares of the technology company’s stock after selling 1,420 shares during the period. Buffington Mohr McNeal’s holdings in International Business Machines were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IBM. Vision Financial Markets LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC acquired a new stake in International Business Machines during the 4th quarter valued at $35,000. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines during the 4th quarter worth $43,000. Park Square Financial Group LLC acquired a new position in International Business Machines in the 4th quarter worth $43,000. Finally, Mascagni Wealth Management Inc. purchased a new position in International Business Machines in the 4th quarter valued at about $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.2%

IBM opened at $287.79 on Thursday. International Business Machines Corporation has a 1-year low of $173.95 and a 1-year high of $296.16. The stock has a market capitalization of $267.47 billion, a PE ratio of 49.53, a PEG ratio of 6.11 and a beta of 0.69. 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 firm has a 50-day moving average price of $265.93 and a two-hundred day moving average price of $248.79.

International Business Machines (NYSE:IBM) last released its 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 company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.34%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBM. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Wedbush boosted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. 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. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, The Goldman Sachs Group upped their price objective on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $257.50.

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.