International Business Machines Corporation (NYSE:IBM) Shares Sold by Hedges Asset Management LLC

Hedges Asset Management LLC trimmed its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,000 shares of the technology company's stock after selling 2,000 shares during the quarter. International Business Machines accounts for approximately 1.2% of Hedges Asset Management LLC's investment portfolio, making the stock its 23rd biggest holding. Hedges Asset Management LLC's holdings in International Business Machines were worth $1,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Lake Street Advisors Group LLC grew its position in International Business Machines by 7.2% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,704 shares of the technology company's stock valued at $1,034,000 after buying an additional 317 shares during the period. NewEdge Wealth LLC increased its holdings in International Business Machines by 7.4% in the fourth quarter. NewEdge Wealth LLC now owns 173,277 shares of the technology company's stock valued at $38,092,000 after buying an additional 11,954 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of International Business Machines in the fourth quarter worth about $68,000. Finally, SRN Advisors LLC boosted its stake in shares of International Business Machines by 185.2% during the 4th quarter. SRN Advisors LLC now owns 7,161 shares of the technology company's stock worth $1,574,000 after acquiring an additional 4,650 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Up 0.5%

Shares of International Business Machines stock opened at $292.49 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The stock's 50 day simple moving average is $261.91 and its 200-day simple moving average is $247.14. The stock has a market cap of $271.84 billion, a P/E ratio of 50.34, a P/E/G ratio of 6.11 and a beta of 0.66. International Business Machines Corporation has a 1-year low of $170.48 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping 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 company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.30%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Analyst Ratings Changes

A number of research firms have recently commented on IBM. Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Morgan Stanley reduced their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of "Hold" and an average price target of $253.75.

International Business Machines Company 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.

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