Daymark Wealth Partners LLC Reduces Position in International Business Machines Corporation (NYSE:IBM)

Daymark Wealth Partners LLC reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 48.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,656 shares of the technology company's stock after selling 101,064 shares during the quarter. International Business Machines makes up about 1.1% of Daymark Wealth Partners LLC's holdings, making the stock its 15th largest position. Daymark Wealth Partners LLC's holdings in International Business Machines were worth $26,770,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. E&G Advisors LP lifted its position in shares of International Business Machines by 6.7% during the 1st quarter. E&G Advisors LP now owns 3,170 shares of the technology company's stock valued at $788,000 after buying an additional 200 shares during the last quarter. Mattern Wealth Management LLC raised its stake in International Business Machines by 12.8% in the 1st quarter. Mattern Wealth Management LLC now owns 1,761 shares of the technology company's stock valued at $438,000 after acquiring an additional 200 shares during the period. Sage Financial Management Group Inc. lifted its holdings in International Business Machines by 4.7% during the first quarter. Sage Financial Management Group Inc. now owns 1,570 shares of the technology company's stock valued at $390,000 after purchasing an additional 70 shares during the last quarter. Field & Main Bank boosted its position in International Business Machines by 2.0% during the first quarter. Field & Main Bank now owns 16,804 shares of the technology company's stock worth $4,178,000 after purchasing an additional 335 shares during the period. Finally, Archford Capital Strategies LLC increased its stake in shares of International Business Machines by 3.3% in the first quarter. Archford Capital Strategies LLC now owns 8,988 shares of the technology company's stock worth $2,235,000 after purchasing an additional 289 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $1.43 on Thursday, hitting $292.49. 3,617,544 shares of the company traded hands, compared to its average volume of 4,221,083. International Business Machines Corporation has a 12-month low of $170.48 and a 12-month high of $296.16. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company has a market cap of $271.84 billion, a P/E ratio of 50.34, a P/E/G ratio of 6.17 and a beta of 0.66. The firm's 50-day simple moving average is $260.83 and its 200 day simple moving average is $246.71.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the business posted $1.68 earnings per share. The company's revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. UBS Group restated a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of "Hold" and an average price target of $253.75.

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.