Dakota Wealth Management Lowers Stock Position in International Business Machines Corporation (NYSE:IBM)

Dakota Wealth Management cut its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,189 shares of the technology company's stock after selling 8,882 shares during the period. Dakota Wealth Management's holdings in International Business Machines were worth $9,247,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new position in shares of International Business Machines during the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $43,000. Mascagni Wealth Management Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in International Business Machines in the 1st quarter valued at $45,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IBM. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. UBS Group reiterated a "sell" rating and issued a $195.00 price objective (up from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $259.06.

International Business Machines Trading Down 1.4%

NYSE:IBM opened at $283.33 on Monday. The company has a market capitalization of $263.33 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 5.95 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The stock has a fifty day simple moving average of $273.18 and a 200-day simple moving average of $252.30.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business's revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. On average, equities research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.37%. International Business Machines's payout ratio 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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