Allen Capital Group LLC Reduces Holdings in International Business Machines Corporation (NYSE:IBM)

Allen Capital Group LLC lowered its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 77.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,191 shares of the technology company's stock after selling 17,826 shares during the quarter. Allen Capital Group LLC's holdings in International Business Machines were worth $1,291,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC boosted its position in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after acquiring an additional 427,499 shares during the last quarter. Capital World Investors boosted its position in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the last quarter. Northern Trust Corp boosted its position in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock worth $1,783,281,000 after acquiring an additional 722,582 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent analyst reports. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. 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. Royal Bank Of Canada increased their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Morgan Stanley cut their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $266.19.

International Business Machines Trading Up 1.4%

Shares of IBM stock traded up $4.04 during mid-day trading on Friday, reaching $286.04. The company's stock had a trading volume of 4,465,031 shares, compared to its average volume of 4,230,429. The company's 50 day simple moving average is $276.39 and its 200-day simple moving average is $254.02. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $265.85 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 5.92 and a beta of 0.69.

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 (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The firm's quarterly revenue was up .5% on a year-over-year basis. On average, research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.35%. International Business Machines's payout ratio is 115.66%.

About International Business Machines

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.