International Business Machines Co. (NYSE:IBM) Shares Sold by Atwood & Palmer Inc.

Atwood & Palmer Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 21.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,149 shares of the technology company's stock after selling 1,150 shares during the period. Atwood & Palmer Inc.'s holdings in International Business Machines were worth $1,032,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IBM. Gibson Capital LLC purchased a new stake in shares of International Business Machines in the first quarter valued at $231,000. Financial Council LLC purchased a new stake in International Business Machines in the 1st quarter worth about $214,000. Abacus FCF Advisors LLC lifted its stake in International Business Machines by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 49,553 shares of the technology company's stock worth $12,322,000 after purchasing an additional 1,353 shares during the last quarter. Ibex Wealth Advisors boosted its position in shares of International Business Machines by 7.4% during the first quarter. Ibex Wealth Advisors now owns 68,974 shares of the technology company's stock valued at $17,151,000 after buying an additional 4,775 shares during the period. Finally, Manitou Investment Management Ltd. bought a new position in shares of International Business Machines during the first quarter valued at approximately $70,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IBM. UBS Group restated a "sell" rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective on the stock. Royal Bank of Canada lifted their target price on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley dropped their price target on 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $250.31.

International Business Machines Trading Up 1.5%

IBM stock traded up $4.09 during mid-day trading on Tuesday, hitting $276.17. 5,160,847 shares of the company were exchanged, compared to its average volume of 4,223,060. International Business Machines Co. has a 12-month low of $166.81 and a 12-month high of $277.43. The firm has a market capitalization of $256.67 billion, a P/E ratio of 43.08, a PEG ratio of 5.81 and a beta of 0.66. The business has a fifty day simple moving average of $248.62 and a 200-day simple moving average of $242.46. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last posted 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. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 earnings per share. On average, equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.43%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

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.