International Business Machines Corporation (NYSE:IBM) Stock Position Lowered by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,123 shares of the technology company’s stock after selling 9,955 shares during the quarter. International Business Machines comprises approximately 1.3% of First Horizon Advisors Inc.’s portfolio, making the stock its 10th biggest holding. First Horizon Advisors Inc.’s holdings in International Business Machines were worth $46,530,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC bought a new stake in International Business Machines during the 1st quarter worth approximately $396,000. Treasurer of the State of North Carolina increased its holdings in shares of International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after purchasing an additional 4,131 shares during the period. Mufg Securities Americas Inc. bought a new position in shares of International Business Machines in the fourth quarter worth $3,000,000. Magnolia Private Wealth LLC bought a new stake in International Business Machines during the first quarter valued at $239,000. Finally, Ferguson Wellman Capital Management Inc. grew its position in International Business Machines by 0.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company’s stock worth $35,172,000 after buying an additional 1,058 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $287.79 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 firm’s 50-day moving average price is $265.93 and its two-hundred day moving average price is $248.79. The stock has a market capitalization of $267.47 billion, a price-to-earnings ratio of 49.53, a PEG ratio of 6.11 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $173.95 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the company posted $1.68 EPS. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share 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 issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.34%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IBM shares. The Goldman Sachs Group boosted their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group reiterated a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush increased their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $257.50.

About International Business Machines

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.