International Business Machines Corporation $IBM Shares Sold by Sargent Investment Group LLC

Key Points

• Sargent Investment Group LLC trimmed its IBM stake by 4.5% in the fourth quarter, selling 2,601 shares and leaving it with 54,810 shares valued at about $16.2 million.
• IBM reported solid quarterly results, posting $1.91 EPS versus $1.81 expected and revenue of $15.92 billion, with revenue up 9.5% year over year.
• The company raised its dividend to $1.69 per share quarterly, and analysts remain generally positive with a consensus “Moderate Buy” rating and an average price target of $304.17.

Sargent Investment Group LLC reduced its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,810 shares of the technology company's stock after selling 2,601 shares during the quarter. International Business Machines comprises 2.0% of Sargent Investment Group LLC's investment portfolio, making the stock its 10th biggest holding. Sargent Investment Group LLC's holdings in International Business Machines were worth $16,235,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. CVA Family Office LLC lifted its holdings in shares of International Business Machines by 1.4% in the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock valued at $708,000 after buying an additional 33 shares during the period. Foster Group Inc. lifted its holdings in shares of International Business Machines by 1.3% in the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock valued at $742,000 after buying an additional 33 shares during the period. New Covenant Trust Company N.A. lifted its holdings in shares of International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock valued at $264,000 after buying an additional 33 shares during the period. McGowan Group Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.2% in the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock valued at $798,000 after buying an additional 33 shares during the period. Finally, Altman Advisors Inc. lifted its holdings in shares of International Business Machines by 0.3% in the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company's stock valued at $2,802,000 after buying an additional 34 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE IBM opened at $271.77 on Monday. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46. The company has a market capitalization of $255.43 billion, a P/E ratio of 24.03, a PEG ratio of 2.82 and a beta of 0.66. The business has a 50 day moving average price of $250.02 and a 200 day moving average price of $270.10. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.International Business Machines's quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $1.60 EPS. Sell-side analysts expect that International Business Machines Corporation will post 12.38 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 2.5%. International Business Machines's dividend payout ratio (DPR) is 59.77%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus set a $290.00 price target on International Business Machines in a report on Friday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating on shares of International Business Machines in a report on Thursday, May 28th. Morgan Stanley raised their price target on International Business Machines from $215.00 to $225.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Citigroup raised their price objective on International Business Machines from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Finally, DZ Bank raised International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 price objective for the company in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $304.17.

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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