Hengehold Capital Management LLC Trims Holdings in International Business Machines Co. (NYSE:IBM)

Hengehold Capital Management LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,827 shares of the technology company’s stock after selling 101 shares during the period. Hengehold Capital Management LLC’s holdings in International Business Machines were worth $703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new stake in International Business Machines in the fourth quarter worth about $902,000. Brighton Jones LLC lifted its holdings in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares during the period. Root Financial Partners LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $245,000. Blue Trust Inc. increased its position in shares of International Business Machines by 14.6% in the fourth quarter. Blue Trust Inc. now owns 20,962 shares of the technology company’s stock valued at $4,608,000 after buying an additional 2,673 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its position in shares of International Business Machines by 0.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 14,096 shares of the technology company’s stock valued at $3,099,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.5%

IBM opened at $276.84 on Friday. The business’s 50-day simple moving average is $252.60 and its 200-day simple moving average is $243.78. The company has a market cap of $257.29 billion, a P/E ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a one year low of $167.50 and a one year high of $283.06.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the business posted $1.68 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.78 EPS 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 represents a $6.72 dividend on an annualized basis and a yield of 2.43%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Analyst Ratings Changes

Several analysts recently commented on IBM shares. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. UBS Group reaffirmed a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Finally, Bank of America upped their price target on International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, June 9th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $250.31.

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.