Choreo LLC Lowers Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Choreo LLC reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,448 shares of the technology company's stock after selling 1,510 shares during the period. Choreo LLC's holdings in International Business Machines were worth $11,798,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Proficio Capital Partners LLC raised its stake in International Business Machines by 81.5% in the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock valued at $591,000 after buying an additional 1,206 shares in the last quarter. American Century Companies Inc. raised its stake in International Business Machines by 9.4% in the fourth quarter. American Century Companies Inc. now owns 485,334 shares of the technology company's stock valued at $106,691,000 after buying an additional 41,683 shares in the last quarter. Clune & Associates LTD. purchased a new position in shares of International Business Machines during the fourth quarter worth about $230,000. Finally, Congress Wealth Management LLC DE grew its holdings in shares of International Business Machines by 10.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 21,730 shares of the technology company's stock worth $4,777,000 after purchasing an additional 1,987 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America raised their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Finally, Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and a consensus price target of $266.19.

International Business Machines Trading Down 0.3%

IBM stock traded down $0.97 during midday trading on Tuesday, hitting $283.75. The stock had a trading volume of 528,968 shares, compared to its average volume of 4,213,140. The firm has a market cap of $263.71 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 6.00 and a beta of 0.69. 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 12-month low of $181.81 and a 12-month high of $296.16. The company's 50-day moving average price is $276.39 and its 200 day moving average price is $254.50.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the prior year, the company earned $1.68 EPS. The firm's revenue was up .5% on a year-over-year basis. On average, equities research 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. 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 is 115.66%.

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.

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