Alps Advisors Inc. Has $32.42 Million Holdings in International Business Machines Corporation (NYSE:IBM)

Alps Advisors Inc. cut its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Round Rock Advisors LLC raised its stake in shares of International Business Machines by 4.6% during the 1st quarter. Round Rock Advisors LLC now owns 14,995 shares of the technology company's stock worth $3,729,000 after purchasing an additional 662 shares in the last quarter. Allworth Financial LP raised its stake in shares of International Business Machines by 23.3% during the 1st quarter. Allworth Financial LP now owns 75,242 shares of the technology company's stock worth $17,255,000 after purchasing an additional 14,234 shares in the last quarter. Stonebrook Private Inc. raised its stake in shares of International Business Machines by 5.3% in the 1st quarter. Stonebrook Private Inc. now owns 1,577 shares of the technology company's stock valued at $392,000 after acquiring an additional 79 shares in the last quarter. CFO4Life Group LLC bought a new position in shares of International Business Machines in the 1st quarter valued at approximately $202,000. Finally, Leavell Investment Management Inc. raised its stake in shares of International Business Machines by 12.1% in the 1st quarter. Leavell Investment Management Inc. now owns 21,474 shares of the technology company's stock valued at $5,340,000 after acquiring an additional 2,316 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IBM shares. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Morgan Stanley cut their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One 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 company. According to data from MarketBeat, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.06.

International Business Machines Stock Performance

NYSE IBM traded down $4.10 during trading on Friday, hitting $283.33. The company's stock had a trading volume of 3,789,706 shares, compared to its average volume of 4,240,258. 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 firm has a 50 day moving average price of $273.18 and a 200 day moving average price of $251.92. The firm has a market cap of $263.33 billion, a P/E ratio of 48.77, a price-to-earnings-growth ratio of 6.04 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $178.50 and a 52 week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the business posted $1.68 EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. 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 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.