Libra Wealth LLC Sells 1,000 Shares of International Business Machines Corporation (NYSE:IBM)

Libra Wealth LLC reduced its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,732 shares of the technology company's stock after selling 1,000 shares during the quarter. Libra Wealth LLC's holdings in International Business Machines were worth $679,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IBM. Brighton Jones LLC raised its stake 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 worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Fisher Asset Management LLC lifted its position in International Business Machines by 18.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,292 shares of the technology company's stock valued at $4,021,000 after acquiring an additional 2,872 shares in the last quarter. Maia Wealth LLC boosted its position in shares of International Business Machines by 20.8% during the fourth quarter. Maia Wealth LLC now owns 1,608 shares of the technology company's stock valued at $360,000 after buying an additional 277 shares during the last quarter. Plato Investment Management Ltd grew its stake in shares of International Business Machines by 3.9% in the 4th quarter. Plato Investment Management Ltd now owns 14,461 shares of the technology company's stock worth $3,191,000 after acquiring an additional 543 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in International Business Machines by 27.6% in the 4th quarter. Fidelis Capital Partners LLC now owns 7,983 shares of the technology company's stock valued at $1,755,000 after buying an additional 1,727 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.1%

IBM stock traded down $3.24 on Wednesday, reaching $287.96. The company's stock had a trading volume of 841,267 shares, compared to its average volume of 4,207,728. The business has a fifty day simple moving average of $265.09 and a two-hundred day simple moving average of $248.52. International Business Machines Corporation has a 12-month low of $173.95 and a 12-month high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a market cap of $267.63 billion, a PE ratio of 49.58, a PEG ratio of 6.19 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 for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. As a group, research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.33%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 115.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IBM shares. Morgan Stanley lowered their target price on 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. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, UBS Group reiterated a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.