Alps Advisors Inc. Sells 7,372 Shares of International Business Machines Corporation (NYSE:IBM)

Alps Advisors Inc. lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 130,365 shares of the technology company's stock after selling 7,372 shares during the period. Alps Advisors Inc.'s holdings in International Business Machines were worth $32,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Proficio Capital Partners LLC increased its stake in International Business Machines by 81.5% during the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock worth $591,000 after acquiring an additional 1,206 shares during the last quarter. Davis R M Inc. boosted its position in shares of International Business Machines by 34.2% in the fourth quarter. Davis R M Inc. now owns 11,211 shares of the technology company's stock worth $2,465,000 after buying an additional 2,860 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in International Business Machines by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 15,461 shares of the technology company's stock valued at $3,399,000 after purchasing an additional 646 shares during the last quarter. Finally, AGF Management Ltd. boosted its holdings in International Business Machines by 1.8% in the fourth quarter. AGF Management Ltd. now owns 17,561 shares of the technology company's stock valued at $3,860,000 after purchasing an additional 315 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Down 1.0%

IBM traded down $2.95 during midday trading on Thursday, reaching $287.19. The company's stock had a trading volume of 3,484,681 shares, compared to its average volume of 4,236,335. The stock's 50-day moving average is $271.47 and its 200-day moving average is $251.07. International Business Machines Corporation has a 1 year low of $176.62 and a 1 year high of $296.16. 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 firm has a market capitalization of $266.91 billion, a price-to-earnings ratio of 49.43, a PEG ratio of 6.09 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm earned $1.68 earnings per share. As a group, research analysts expect that International Business Machines Corporation will post 10.78 EPS 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 boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.34%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IBM. Bank of America increased their price target on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.06.

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.