Boothe Investment Group Inc. Sells 3,360 Shares of International Business Machines Co. (NYSE:IBM)

Boothe Investment Group Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,736 shares of the technology company's stock after selling 3,360 shares during the period. International Business Machines makes up about 0.8% of Boothe Investment Group Inc.'s portfolio, making the stock its 26th biggest holding. Boothe Investment Group Inc.'s holdings in International Business Machines were worth $1,675,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina increased its position in International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after acquiring an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines during the fourth quarter worth approximately $242,000. Truist Financial Corp raised its position in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after buying an additional 49,591 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of International Business Machines in the fourth quarter valued at approximately $3,000,000. Finally, Magnolia Private Wealth LLC bought a new position in International Business Machines during the 1st quarter worth $239,000. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on IBM. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. 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 stock. According to data from MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus price target of $250.31.

International Business Machines Trading Up 1.6%

NYSE IBM traded up $4.44 on Monday, hitting $281.66. The company's stock had a trading volume of 3,681,949 shares, compared to its average volume of 4,235,076. The company's 50-day moving average is $252.60 and its 200 day moving average is $243.90. The firm has a market cap of $261.77 billion, a PE ratio of 43.94, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 1-year low of $167.50 and a 1-year high of $284.45. 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 issued its quarterly earnings data 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 company had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. International Business Machines's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 earnings per share. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) 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.