Advocate Group LLC Sells 5,214 Shares of International Business Machines Corporation (NYSE:IBM)

Advocate Group LLC trimmed its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,925 shares of the technology company's stock after selling 5,214 shares during the period. International Business Machines comprises about 2.4% of Advocate Group LLC's investment portfolio, making the stock its 6th largest holding. Advocate Group LLC's holdings in International Business Machines were worth $12,912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina lifted its holdings in shares of International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after purchasing an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of International Business Machines in the fourth quarter valued at about $3,000,000. Magnolia Private Wealth LLC bought a new stake in shares of International Business Machines in the first quarter valued at about $239,000. QRG Capital Management Inc. lifted its holdings in shares of International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock valued at $33,118,000 after purchasing an additional 10,467 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its holdings in shares of International Business Machines by 0.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock valued at $35,172,000 after purchasing an additional 1,058 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE:IBM traded down $2.54 on Friday, hitting $280.67. The company's stock had a trading volume of 7,657,665 shares, compared to its average volume of 4,223,074. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock has a fifty day moving average of $257.71 and a two-hundred day moving average of $245.64. The firm has a market capitalization of $260.85 billion, a P/E ratio of 48.31, a price-to-earnings-growth ratio of 5.90 and a beta of 0.66. International Business Machines Corporation has a one year low of $170.41 and a one year high of $286.91.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm 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 business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.68 earnings per share. Research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.39%. International Business Machines's dividend payout ratio is currently 115.66%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America boosted their price target on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada upped their target price on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $253.75.

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.