International Business Machines Corporation (NYSE:IBM) Shares Sold by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. lowered its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 11.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 37,041 shares of the technology company's stock after selling 4,919 shares during the quarter. Avantax Planning Partners Inc.'s holdings in International Business Machines were worth $9,211,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IBM. Brighton Jones LLC grew its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares during the period. Assetmark Inc. grew its position in shares of International Business Machines by 5.7% during the 4th quarter. Assetmark Inc. now owns 40,688 shares of the technology company's stock valued at $8,944,000 after acquiring an additional 2,210 shares during the period. Proficio Capital Partners LLC raised its stake in shares of International Business Machines by 81.5% during the 4th quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock worth $591,000 after buying an additional 1,206 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of International Business Machines by 0.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 84,239 shares of the technology company's stock valued at $18,518,000 after purchasing an additional 231 shares during the last quarter. Finally, Vision Financial Markets LLC purchased a new position in International Business Machines during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $291.66 on Friday. The firm has a 50 day moving average of $267.18 and a two-hundred day moving average of $249.22. The stock has a market capitalization of $271.06 billion, a PE ratio of 50.20, a P/E/G ratio of 6.04 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 52 week low of $173.95 and a 52 week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) 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 firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the business posted $1.68 earnings per share. International Business Machines's revenue was up .5% compared to the same quarter last year. 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 announced 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 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 dividend payout ratio is presently 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. UBS Group restated a "sell" rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $257.50.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.