Beech Hill Advisors Inc. Cuts Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Beech Hill Advisors Inc. cut its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 10.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,975 shares of the technology company's stock after selling 1,756 shares during the period. International Business Machines accounts for 1.5% of Beech Hill Advisors Inc.'s holdings, making the stock its 25th biggest position. Beech Hill Advisors Inc.'s holdings in International Business Machines were worth $3,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Dimensions Group Ltd. raised its holdings in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after purchasing an additional 40 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after buying an additional 42 shares during the period. Schechter Investment Advisors LLC lifted its position in shares of International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after buying an additional 43 shares in the last quarter. Titleist Asset Management LLC grew its stake in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after acquiring an additional 43 shares during the period. Finally, Range Financial Group LLC increased its holdings in International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on IBM. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Bank of America upped their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Finally, Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average target price of $253.75.

International Business Machines Price Performance

IBM stock opened at $291.38 on Thursday. International Business Machines Corporation has a 52-week low of $170.41 and a 52-week 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 stock has a market cap of $270.81 billion, a price-to-earnings ratio of 50.15, a price-to-earnings-growth ratio of 6.17 and a beta of 0.66. The business has a fifty day moving average of $260.83 and a two-hundred day moving average of $246.71.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The firm's quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.31%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 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.

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