Castlekeep Investment Advisors LLC Decreases Stake in International Business Machines Corporation (NYSE:IBM)

Castlekeep Investment Advisors LLC trimmed its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 15.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,292 shares of the technology company's stock after selling 969 shares during the period. Castlekeep Investment Advisors LLC's holdings in International Business Machines were worth $1,316,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IBM. Christopher J. Hasenberg Inc purchased a new position in shares of International Business Machines during the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the 4th quarter valued at $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines during the 4th quarter worth $43,000. Mascagni Wealth Management Inc. acquired a new stake in shares of International Business Machines during the fourth quarter worth $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines in the first quarter valued at $45,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.1%

NYSE IBM traded up $0.27 during trading hours on Monday, hitting $283.86. The company had a trading volume of 2,856,987 shares, compared to its average volume of 4,500,995. The firm's 50 day moving average is $273.18 and its 200 day moving average is $252.30. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The company has a market capitalization of $263.82 billion, a price-to-earnings ratio of 48.86, a P/E/G ratio of 5.95 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted 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. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 earnings per share. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Analyst Ratings Changes

IBM has been the topic of several recent analyst reports. UBS Group reiterated a "sell" rating and set a $195.00 target price (up from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $259.06.

About International Business Machines

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.