Benedict Financial Advisors Inc. Trims Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Benedict Financial Advisors Inc. reduced its holdings in International Business Machines Corporation (IBM) by 21.7%, owning 3,753 shares valued at approximately $933,000 after selling 1,041 shares in the first quarter.
• IBM's stock price opened at $260.56, reflecting a 7.6% decline, with a twelve-month range between $181.81 and $296.16.
• The company recently announced an increase in its quarterly dividend to $1.68 per share, yielding 2.58%, with a payout ratio of 115.66%.

Benedict Financial Advisors Inc. decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 21.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,753 shares of the technology company's stock after selling 1,041 shares during the period. Benedict Financial Advisors Inc.'s holdings in International Business Machines were worth $933,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new stake in International Business Machines in the first quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the 4th quarter valued at about $43,000. Park Square Financial Group LLC purchased a new position in International Business Machines during the 4th quarter valued at about $43,000. Mascagni Wealth Management Inc. acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines in the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IBM shares. Stifel Nicolaus upped their price target on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. upped their price target on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday. Royal Bank Of Canada increased their target price on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Morgan Stanley cut their target price 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $1.82 during midday trading on Monday, hitting $261.54. 2,662,866 shares of the company's stock were exchanged, compared to its average volume of 4,624,641. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16. The company's 50 day moving average price is $277.69 and its 200 day moving average price is $256.27. The firm has a market capitalization of $243.07 billion, a PE ratio of 42.48, a price-to-earnings-growth ratio of 4.01 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $2.43 EPS. As a group, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 109.09%.

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.