Heritage Investors Management Corp Sells 1,227 Shares of International Business Machines Corporation (NYSE:IBM)

Heritage Investors Management Corp cut its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,529 shares of the technology company's stock after selling 1,227 shares during the period. Heritage Investors Management Corp's holdings in International Business Machines were worth $12,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Dimensions Group Ltd. lifted its stake in shares of International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after purchasing an additional 40 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after purchasing an additional 42 shares during the last quarter. DMC Group LLC lifted its stake in shares of International Business Machines by 1.2% in the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after purchasing an additional 42 shares during the last quarter. Titleist Asset Management LLC lifted its stake in shares of International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after purchasing an additional 43 shares during the last quarter. Finally, Range Financial Group LLC lifted its stake in shares of International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after purchasing an additional 43 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Morgan Stanley decreased their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group raised their price target on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $266.19.

International Business Machines Trading Up 1.4%

IBM opened at $286.04 on Friday. The stock's fifty day moving average is $276.39 and its two-hundred day moving average is $254.26. The company has a market capitalization of $265.85 billion, a P/E ratio of 49.23, a PEG ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. 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 (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $14.41 billion. During the same period last year, the business posted $1.68 EPS. 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 year.

International Business Machines Increases Dividend

The business 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 is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.35%. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

About International Business Machines

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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