Byrne Financial Freedom LLC Sells 26,886 Shares of International Business Machines Corporation (NYSE:IBM)

Byrne Financial Freedom LLC reduced its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 85.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,456 shares of the technology company's stock after selling 26,886 shares during the quarter. Byrne Financial Freedom LLC's holdings in International Business Machines were worth $1,108,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC acquired a new stake in shares of International Business Machines during the first quarter worth $396,000. Treasurer of the State of North Carolina grew its holdings in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after purchasing an additional 4,131 shares during the period. Mufg Securities Americas Inc. acquired a new stake in International Business Machines in the fourth quarter worth $3,000,000. Magnolia Private Wealth LLC acquired a new stake in International Business Machines in the first quarter worth $239,000. Finally, Ferguson Wellman Capital Management Inc. grew its holdings in International Business Machines by 0.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock worth $35,172,000 after purchasing an additional 1,058 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Bank of America raised their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $257.50.

International Business Machines Price Performance

NYSE:IBM traded down $2.07 during mid-day trading on Tuesday, hitting $290.40. 565,030 shares of the stock traded hands, compared to its average volume of 4,218,677. The business's 50-day moving average price is $269.48 and its 200 day moving average price is $250.52. The company has a market cap of $269.90 billion, a PE ratio of 49.87, a price-to-earnings-growth ratio of 6.13 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $174.45 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.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The business's quarterly revenue was up .5% compared to the same quarter last year. On average, analysts expect that International Business Machines Corporation will post 10.78 EPS 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 2.31%. 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%.

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.