Birchcreek Wealth Management LLC Sells 158 Shares of International Business Machines Corporation (NYSE:IBM)

Birchcreek Wealth Management LLC reduced its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 7.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,004 shares of the technology company’s stock after selling 158 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in International Business Machines were worth $498,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of IBM. Brighton Jones LLC raised its position in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. Congress Wealth Management LLC DE increased its holdings in shares of International Business Machines by 10.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 21,730 shares of the technology company’s stock valued at $4,777,000 after purchasing an additional 1,987 shares during the last quarter. Modern Wealth Management LLC boosted its position in shares of International Business Machines by 46.1% during the 4th quarter. Modern Wealth Management LLC now owns 14,493 shares of the technology company’s stock valued at $3,186,000 after acquiring an additional 4,572 shares during the last quarter. Ashton Thomas Securities LLC increased its holdings in shares of International Business Machines by 89.6% during the 4th quarter. Ashton Thomas Securities LLC now owns 2,543 shares of the technology company’s stock worth $560,000 after buying an additional 1,202 shares during the last quarter. Finally, FineMark National Bank & Trust raised its position in International Business Machines by 1.6% in the fourth quarter. FineMark National Bank & Trust now owns 9,269 shares of the technology company’s stock valued at $2,038,000 after purchasing an additional 143 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IBM shares. Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Wedbush lifted their price target on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Stifel Nicolaus increased their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, BMO Capital Markets increased their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and an average target price of $265.56.

International Business Machines Stock Down 8.7%

Shares of IBM stock traded down $24.48 on Thursday, hitting $257.53. The company’s stock had a trading volume of 8,237,741 shares, compared to its average volume of 4,492,020. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market capitalization of $239.35 billion, a price-to-earnings ratio of 44.44, a P/E/G ratio of 6.01 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The firm’s fifty day moving average price is $277.95 and its 200-day moving average price is $255.30.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the business posted $2.43 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.61%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

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.