Castle Rock Wealth Management LLC Sells 2,581 Shares of International Business Machines Co. (NYSE:IBM)

Castle Rock Wealth Management LLC cut its position in International Business Machines Co. (NYSE:IBM - Free Report) by 18.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,194 shares of the technology company's stock after selling 2,581 shares during the quarter. Castle Rock Wealth Management LLC's holdings in International Business Machines were worth $2,780,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Capital World Investors lifted its position in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank acquired a new stake in shares of International Business Machines during the fourth quarter valued at $1,236,176,000. GAMMA Investing LLC grew its holdings in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after buying an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines during the fourth quarter worth $592,746,000. Finally, Northern Trust Corp grew its holdings in International Business Machines by 18.6% in the 4th 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 during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IBM shares. Oppenheimer started coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 target price for the company. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $249.06.

International Business Machines Price Performance

IBM traded down $0.08 on Wednesday, hitting $265.12. 920,850 shares of the stock were exchanged, compared to its average volume of 4,203,425. International Business Machines Co. has a 12 month low of $163.88 and a 12 month high of $269.28. The business has a 50-day moving average of $247.02 and a two-hundred day moving average of $240.81. 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 firm has a market capitalization of $246.40 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 5.81 and a beta of 0.64.

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. 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 return on equity of 38.99% and a net margin of 9.60%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.53%. International Business Machines's payout ratio is presently 115.66%.

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.