International Business Machines Corporation $IBM Shares Sold by Radnor Capital Management LLC

Key Points

• Radnor Capital Management cut its IBM stake by 4.5% in the fourth quarter, selling 2,823 shares and leaving it with 60,021 shares worth about $17.8 million.
• IBM reported better-than-expected quarterly results, posting EPS of $1.91 versus estimates of $1.81 and revenue of $15.92 billion versus $15.60 billion expected. Revenue rose 9.5% year over year.
• The company raised its quarterly dividend to $1.69 per share, giving IBM an annualized payout of $6.76 and a yield of about 3.0%.

Radnor Capital Management LLC trimmed its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,021 shares of the technology company's stock after selling 2,823 shares during the quarter. International Business Machines comprises 2.6% of Radnor Capital Management LLC's portfolio, making the stock its 6th biggest holding. Radnor Capital Management LLC's holdings in International Business Machines were worth $17,779,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Family CFO Inc bought a new position in shares of International Business Machines in the fourth quarter worth about $25,000. Joseph Group Capital Management bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $28,000. SWAN Capital LLC acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $28,000. DecisionPoint Financial LLC increased its holdings in shares of International Business Machines by 1,666.7% in the fourth quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company's stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in International Business Machines in the 4th quarter worth approximately $31,000. Institutional investors own 58.96% of the company's stock.

Insider Activity at International Business Machines

In other news, Director Michael Miebach purchased 434 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the transaction, the director directly owned 434 shares of the company's stock, valued at approximately $101,265.22. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by company insiders.

International Business Machines Stock Performance

IBM stock opened at $222.84 on Tuesday. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $324.90. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The company has a market cap of $209.45 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58. The business's fifty day moving average is $239.81 and its 200-day moving average is $274.15.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 earnings per share. Equities research analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be paid a $1.69 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.0%. International Business Machines's dividend payout ratio (DPR) is currently 59.77%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IBM shares. JPMorgan Chase & Co. decreased their price objective on International Business Machines from $317.00 to $283.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 18th. Citigroup started coverage on International Business Machines in a research note on Friday, April 10th. They set a "buy" rating and a $285.00 price target on the stock. Wedbush reiterated an "outperform" rating and issued a $320.00 price objective on shares of International Business Machines in a research report on Wednesday, May 6th. Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. Finally, BMO Capital Markets cut their target price on shares of International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of "Moderate Buy" and a consensus price target of $294.41.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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