Goelzer Investment Management Inc. Sells 6,677 Shares of International Business Machines Corporation (NYSE:IBM)

Goelzer Investment Management Inc. reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 18.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,218 shares of the technology company's stock after selling 6,677 shares during the period. Goelzer Investment Management Inc.'s holdings in International Business Machines were worth $7,265,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vision Financial Markets LLC bought a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC bought a new position in International Business Machines during the 4th quarter valued at $35,000. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the 4th quarter worth $43,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Up 0.5%

NYSE:IBM opened at $289.05 on Thursday. The company has a market cap of $268.64 billion, a P/E ratio of 49.79, a P/E/G ratio of 6.11 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $173.95 and a 1 year high of $296.16. 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 stock's fifty day moving average price is $265.93 and its two-hundred day moving average price is $248.79.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The firm's revenue was up .5% compared to the same quarter last year. As a group, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 115.66%.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $257.50.

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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