Columbia Asset Management Has $9.11 Million Holdings in International Business Machines Co. (NYSE:IBM)

Columbia Asset Management trimmed its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 70.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,654 shares of the technology company's stock after selling 87,308 shares during the quarter. International Business Machines makes up 1.8% of Columbia Asset Management's portfolio, making the stock its 10th biggest position. Columbia Asset Management's holdings in International Business Machines were worth $9,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. JBR Co Financial Management Inc boosted its stake in shares of International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after purchasing an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. lifted its holdings in International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after buying an additional 40 shares during the period. Schechter Investment Advisors LLC boosted its stake in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after acquiring an additional 43 shares during the last quarter. Titleist Asset Management LLC grew its holdings in International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after acquiring an additional 43 shares during the period. Finally, Callan Capital LLC raised its position in shares of International Business Machines by 2.4% during the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock valued at $411,000 after acquiring an additional 44 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.8%

Shares of NYSE:IBM traded up $2.09 during midday trading on Friday, reaching $268.95. 2,494,389 shares of the company were exchanged, compared to its average volume of 4,207,873. The firm has a market cap of $249.96 billion, a PE ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a fifty-two week low of $166.80 and a fifty-two week high of $270.12. The stock has a fifty day simple moving average of $247.80 and a two-hundred day simple moving average of $241.38. 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 released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 EPS. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.50%. International Business Machines's payout ratio is presently 115.66%.

Analyst Ratings Changes

A number of brokerages recently commented on IBM. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley cut their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and issued a $300.00 price target on shares of International Business Machines in a research note on Wednesday, May 7th. Finally, 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. One equities 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 given a strong buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $249.06.

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.