International Business Machines Co. (NYSE:IBM) Shares Sold by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. lowered its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,180 shares of the technology company's stock after selling 4,945 shares during the quarter. International Business Machines makes up about 2.3% of Stockman Wealth Management Inc.'s holdings, making the stock its 13th biggest position. Stockman Wealth Management Inc.'s holdings in International Business Machines were worth $15,213,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of IBM. Tallon Kerry Patrick purchased a new stake in International Business Machines during the 4th quarter worth about $902,000. Brighton Jones LLC increased its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after purchasing an additional 2,323 shares during the last quarter. ABC Arbitrage SA purchased a new position in International Business Machines during the fourth quarter worth about $1,277,000. Montag A & Associates Inc. boosted its stake in International Business Machines by 0.5% in the 4th quarter. Montag A & Associates Inc. now owns 18,464 shares of the technology company's stock worth $4,059,000 after buying an additional 100 shares during the last quarter. Finally, Beacon Capital Management LLC grew its holdings in International Business Machines by 2.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,486 shares of the technology company's stock valued at $546,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 1.6%

NYSE IBM traded up $4.44 during trading hours on Monday, reaching $281.66. 3,681,949 shares of the company traded hands, compared to its average volume of 4,235,076. The stock has a market capitalization of $261.77 billion, a PE ratio of 43.94, a PEG ratio of 5.81 and a beta of 0.66. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12 month low of $167.50 and a 12 month high of $284.45. The company has a 50 day moving average of $252.60 and a two-hundred day moving average of $243.90.

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 company had revenue of $14.54 billion during the quarter, compared to analyst estimates 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 revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 EPS. As a group, equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current 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 issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IBM shares. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Bank of America increased their price target on shares of International Business Machines from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. UBS Group reissued a "sell" rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $250.31.

International Business Machines Company 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.