International Business Machines Co. (NYSE:IBM) Shares Sold by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,489 shares of the technology company's stock after selling 1,136 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC's holdings in International Business Machines were worth $10,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IBM. Treasurer of the State of North Carolina boosted its position in shares of International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after acquiring an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth approximately $242,000. Truist Financial Corp boosted its position in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after acquiring an additional 49,591 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines in the fourth quarter worth approximately $3,000,000. Finally, Magnolia Private Wealth LLC acquired a new stake in shares of International Business Machines in the first quarter worth approximately $239,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.5%

Shares of NYSE:IBM traded down $4.20 during midday trading on Friday, reaching $276.84. The company had a trading volume of 3,242,911 shares, compared to its average volume of 4,231,454. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock's fifty day moving average price is $252.60 and its 200-day moving average price is $243.67. The stock has a market capitalization of $257.29 billion, a P/E ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a one year low of $167.23 and a one year high of $283.06.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts expect 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. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.43%. International Business Machines's payout ratio is presently 115.66%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IBM shares. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, UBS Group reaffirmed a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.