Hexagon Capital Partners LLC Trims Stake in International Business Machines Corporation (NYSE:IBM)

Hexagon Capital Partners LLC trimmed its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 27.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,017 shares of the technology company's stock after selling 1,874 shares during the quarter. Hexagon Capital Partners LLC's holdings in International Business Machines were worth $1,247,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital World Investors lifted its stake in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. Norges Bank bought a new position in shares of International Business Machines in the fourth quarter valued at $1,236,176,000. GAMMA Investing LLC lifted its stake in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after buying an additional 4,384,958 shares in the last quarter. Northern Trust Corp lifted its stake in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after buying an additional 1,539,888 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Morgan Stanley dropped 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 report on Thursday, April 24th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada raised their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $257.50.

International Business Machines Stock Performance

IBM stock traded up $4.01 during mid-day trading on Friday, hitting $291.66. The company had a trading volume of 1,853,289 shares, compared to its average volume of 4,231,670. The firm has a market cap of $271.06 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 6.13 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a 12 month low of $174.45 and a 12 month high of $296.16. The stock's fifty day moving average price is $268.36 and its two-hundred day moving average price is $249.86.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results 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. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.68 earnings per share. On average, 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 company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.30%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 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.