Boothe Investment Group Inc. Trims Position in International Business Machines Co. (NYSE:IBM)

Boothe Investment Group Inc. lessened its stake in International Business Machines Co. (NYSE:IBM) by 33.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,736 shares of the technology company’s stock after selling 3,360 shares during the period. International Business Machines accounts for about 0.8% of Boothe Investment Group Inc.’s portfolio, making the stock its 26th largest position. Boothe Investment Group Inc.’s holdings in International Business Machines were worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick purchased a new position in International Business Machines during the 4th quarter valued at about $902,000. Brighton Jones LLC increased its position in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares during the period. ABC Arbitrage SA purchased a new position in International Business Machines during the 4th quarter valued at about $1,277,000. Montag A & Associates Inc. grew its position in shares of International Business Machines by 0.5% in the 4th quarter. Montag A & Associates Inc. now owns 18,464 shares of the technology company’s stock worth $4,059,000 after buying an additional 100 shares during the last quarter. Finally, Beacon Capital Management LLC grew its position in shares of International Business Machines by 2.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,486 shares of the technology company’s stock worth $546,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IBM. 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 research report on Thursday, April 24th. UBS Group reaffirmed a “sell” rating and issued a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $250.31.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $276.84 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12 month low of $167.50 and a 12 month high of $283.06. The company has a 50 day simple moving average of $252.60 and a two-hundred day simple moving average of $243.90. The stock has a market cap of $257.29 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its earnings results 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 firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 EPS. As a group, analysts predict that International Business Machines Co. 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 2.43%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

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.