Graypoint LLC Sells 1,501 Shares of International Business Machines Corporation (NYSE:IBM)

Graypoint LLC cut its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,958 shares of the technology company's stock after selling 1,501 shares during the quarter. Graypoint LLC's holdings in International Business Machines were worth $2,725,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC increased its holdings in shares of International Business Machines by 3.3% during the first quarter. Ascent Wealth Partners LLC now owns 7,445 shares of the technology company's stock valued at $1,851,000 after acquiring an additional 236 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of International Business Machines by 0.6% during the first quarter. Verdence Capital Advisors LLC now owns 18,869 shares of the technology company's stock valued at $4,692,000 after acquiring an additional 110 shares in the last quarter. Financial Advisors LLC increased its holdings in shares of International Business Machines by 2.1% during the first quarter. Financial Advisors LLC now owns 2,407 shares of the technology company's stock valued at $599,000 after acquiring an additional 50 shares in the last quarter. Napatree Capital LLC bought a new stake in shares of International Business Machines during the first quarter valued at approximately $330,000. Finally, Trust Investment Advisors increased its holdings in shares of International Business Machines by 7.6% during the first quarter. Trust Investment Advisors now owns 11,291 shares of the technology company's stock valued at $2,808,000 after acquiring an additional 795 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM stock traded up $4.04 during midday trading on Friday, hitting $286.04. The company's stock had a trading volume of 4,465,031 shares, compared to its average volume of 4,227,467. The stock's 50-day moving average price is $275.65 and its 200 day moving average price is $253.56. 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 1 year low of $181.81 and a 1 year high of $296.16. The stock has a market cap of $265.85 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 5.92 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share 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 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% on a year-over-year basis. On average, equities analysts forecast 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 given 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 a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IBM. Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. The Goldman Sachs Group lifted their target price on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday. Royal Bank Of Canada lifted their target price on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One 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 company's stock. Based on data from MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and an average 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.