Capital Asset Advisory Services LLC Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Capital Asset Advisory Services LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 16.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,076 shares of the technology company's stock after selling 1,441 shares during the quarter. Capital Asset Advisory Services LLC's holdings in International Business Machines were worth $1,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Merit Financial Group LLC lifted its holdings in shares of International Business Machines by 35.3% during the 1st quarter. Merit Financial Group LLC now owns 28,176 shares of the technology company's stock valued at $7,006,000 after purchasing an additional 7,351 shares during the last quarter. Anderson Hoagland & Co. increased its position in International Business Machines by 5.5% during the 1st quarter. Anderson Hoagland & Co. now owns 37,593 shares of the technology company's stock valued at $9,348,000 after buying an additional 1,953 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in International Business Machines by 5.6% in the first quarter. Harbor Investment Advisory LLC now owns 6,029 shares of the technology company's stock valued at $1,499,000 after buying an additional 318 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in International Business Machines by 13.9% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 1,303 shares of the technology company's stock worth $324,000 after acquiring an additional 159 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC purchased a new stake in shares of International Business Machines during the first quarter worth about $218,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on IBM shares. Morgan Stanley decreased their price objective on shares of 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 price objective on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective on the stock. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, International Business Machines presently has an average rating of "Hold" and an average price target of $249.06.

International Business Machines Stock Performance

International Business Machines stock traded up $1.23 during mid-day trading on Thursday, hitting $266.75. The company had a trading volume of 2,558,211 shares, compared to its average volume of 4,209,693. The company has a market capitalization of $247.92 billion, a price-to-earnings ratio of 41.61, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 12-month low of $165.78 and a 12-month high of $269.28. The company's fifty day moving average is $247.45 and its 200-day moving average is $240.98. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The firm's revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.52%. International Business Machines's dividend payout ratio (DPR) is currently 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.