Foundry Partners LLC Sells 17,070 Shares of International Business Machines Corporation (NYSE:IBM)

Foundry Partners LLC decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 14.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,066 shares of the technology company's stock after selling 17,070 shares during the period. International Business Machines makes up approximately 1.4% of Foundry Partners LLC's holdings, making the stock its 11th biggest position. Foundry Partners LLC's holdings in International Business Machines were worth $25,628,000 at the end of the most recent reporting period.

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

International Business Machines Stock Up 1.4%

Shares of IBM opened at $286.04 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The stock has a market capitalization of $265.85 billion, a PE ratio of 49.23, a P/E/G ratio of 5.92 and a beta of 0.69. The company's 50-day simple moving average is $276.39 and its 200-day simple moving average is $254.02. 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 posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The business's revenue was up .5% compared to the same quarter last year. Analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced 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 2.35%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of 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. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday. Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Bank of America upped their price target 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. Finally, The Goldman Sachs Group increased their price target 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.19.

International Business Machines Company 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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