Coastwise Capital Group LLC Sells 3,665 Shares of International Business Machines Corporation (NYSE:IBM)

Coastwise Capital Group LLC reduced its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 71.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,455 shares of the technology company's stock after selling 3,665 shares during the period. Coastwise Capital Group LLC's holdings in International Business Machines were worth $362,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC purchased a new position in shares of International Business Machines in the first quarter worth about $396,000. Treasurer of the State of North Carolina increased its stake in shares of International Business Machines by 0.8% in 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 purchasing an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC increased its stake in shares of International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC increased its stake in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of International Business Machines in the fourth quarter worth about $3,000,000. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on IBM shares. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Bank of America boosted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and an average target price of $266.19.

International Business Machines Stock Up 1.4%

Shares of International Business Machines stock opened at $286.04 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The company has a 50-day moving average of $276.39 and a 200 day moving average of $254.26. The firm has a market cap of $265.85 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. International Business Machines's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 EPS. As a group, 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 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 annualized dividend and a dividend yield of 2.35%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 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.

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