Mutual Advisors LLC Cuts Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Mutual Advisors LLC cut its stake in International Business Machines Corporation (NYSE:IBM) by 25.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,443 shares of the technology company’s stock after selling 9,741 shares during the period. Mutual Advisors LLC’s holdings in International Business Machines were worth $6,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $31,000. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at approximately $35,000. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth $43,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines during the 4th quarter worth $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.2%

Shares of IBM stock opened at $287.79 on Thursday. The firm’s 50-day simple moving average is $265.93 and its 200-day simple moving average is $248.79. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a 1-year low of $173.95 and a 1-year high of $296.16. The firm has a market cap of $267.47 billion, a P/E ratio of 49.53, a PEG ratio of 6.11 and a beta of 0.69.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued 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 dividend yield of 2.34%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBM. Bank of America lifted their price target on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Morgan Stanley cut their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $257.50.

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.