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Exeter Financial LLC Has $4.12 Million Stake in International Business Machines Co. (NYSE:IBM)

International Business Machines logo with Computer and Technology background

Exeter Financial LLC reduced its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,556 shares of the technology company's stock after selling 1,275 shares during the quarter. International Business Machines comprises approximately 1.8% of Exeter Financial LLC's portfolio, making the stock its 21st biggest holding. Exeter Financial LLC's holdings in International Business Machines were worth $4,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. JBR Co Financial Management Inc increased its stake in shares of International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after acquiring an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. raised its stake in International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after purchasing an additional 40 shares during the period. Schechter Investment Advisors LLC raised its position in shares of International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after buying an additional 43 shares during the period. Titleist Asset Management LLC increased its stake in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after acquiring an additional 43 shares during the last quarter. Finally, Callan Capital LLC raised its holdings in shares of International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock worth $411,000 after purchasing an additional 44 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.1%

IBM stock traded up $0.19 during mid-day trading on Friday, reaching $258.88. 9,667,740 shares of the stock traded hands, compared to its average volume of 4,225,756. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $269.28. The stock's fifty day moving average is $246.37 and its 200-day moving average is $239.81. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market cap of $240.60 billion, a P/E ratio of 40.39, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the firm posted $1.68 earnings per share. The firm's revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.60%. International Business Machines's payout ratio is presently 115.66%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IBM shares. Royal Bank of Canada increased their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of "Hold" and an average target price of $249.06.

Read Our Latest Stock Analysis on International Business Machines

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

International Business Machines Company Profile

(Free Report)

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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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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