Franklin Street Advisors Inc. NC Has $14.17 Million Holdings in International Business Machines Co. (NYSE:IBM)

Franklin Street Advisors Inc. NC cut its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,973 shares of the technology company's stock after selling 2,834 shares during the period. Franklin Street Advisors Inc. NC's holdings in International Business Machines were worth $14,167,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vision Financial Markets LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $35,000. Tacita Capital Inc raised its position in International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after purchasing an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new position in International Business Machines during the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.3%

Shares of NYSE IBM traded down $0.83 during trading on Thursday, hitting $280.69. 3,413,514 shares of the company traded hands, compared to its average volume of 4,232,582. The business's fifty day moving average is $251.46 and its 200 day moving average is $243.34. International Business Machines Co. has a fifty-two week low of $167.23 and a fifty-two week high of $283.06. The firm has a market capitalization of $260.87 billion, a price-to-earnings ratio of 43.79, a P/E/G ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The business's quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. 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. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

Analyst Ratings Changes

A number of analysts have weighed in on IBM shares. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group reaffirmed a "sell" rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines has an average rating of "Hold" and an average target price of $250.31.

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.