Jackson Hole Capital Partners LLC Has $6 Million Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Jackson Hole Capital Partners LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 3.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 24,110 shares of the technology company’s stock after selling 969 shares during the period. International Business Machines makes up 1.2% of Jackson Hole Capital Partners LLC’s investment portfolio, making the stock its 19th biggest position. Jackson Hole Capital Partners LLC’s holdings in International Business Machines were worth $5,995,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IBM. Christopher J. Hasenberg Inc bought a new position in International Business Machines in the first quarter valued at about $27,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the fourth quarter worth approximately $43,000. Park Square Financial Group LLC acquired a new stake in International Business Machines during the fourth quarter worth approximately $43,000. Mascagni Wealth Management Inc. acquired a new stake in International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines in the first quarter valued at approximately $45,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent research reports. Melius Research upgraded International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Bank of America decreased their price objective on International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday. The Goldman Sachs Group upped 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, July 2nd. Finally, Stifel Nicolaus upped their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $265.56.

International Business Machines Trading Down 8.6%

IBM traded down $24.29 on Thursday, hitting $257.72. The company had a trading volume of 11,766,260 shares, compared to its average volume of 4,523,468. The company has a market cap of $239.52 billion, a PE ratio of 44.36, a PEG ratio of 6.01 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The business’s fifty day simple moving average is $277.95 and its 200 day simple moving average is $255.30.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.43 earnings per share. Equities research analysts expect that International Business Machines Corporation will post 10.78 EPS 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 given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.61%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is currently 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.