International Business Machines Corporation (NYSE:IBM) Shares Sold by Money Concepts Capital Corp

Money Concepts Capital Corp cut its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,317 shares of the technology company's stock after selling 2,200 shares during the period. Money Concepts Capital Corp's holdings in International Business Machines were worth $5,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Achmea Investment Management B.V. boosted its position in shares of International Business Machines by 5.6% in the 1st quarter. Achmea Investment Management B.V. now owns 232,800 shares of the technology company's stock valued at $57,888,000 after purchasing an additional 12,377 shares during the period. Quilter Plc purchased a new position in International Business Machines during the first quarter valued at approximately $251,000. Canvas Wealth Advisors LLC raised its holdings in shares of International Business Machines by 15.3% during the first quarter. Canvas Wealth Advisors LLC now owns 1,270 shares of the technology company's stock worth $306,000 after acquiring an additional 169 shares in the last quarter. Cornerstone Enterprises LLC lifted its holdings in shares of International Business Machines by 7.6% during the 1st quarter. Cornerstone Enterprises LLC now owns 6,345 shares of the technology company's stock valued at $1,578,000 after buying an additional 448 shares during the last quarter. Finally, Wolff Financial Management LLC acquired a new position in shares of International Business Machines during the 1st quarter worth $224,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IBM shares. Wedbush increased their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Bank of America upped their price target on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Royal Bank Of Canada upped their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and an average price target of $253.75.

International Business Machines Stock Performance

Shares of IBM 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. International Business Machines Corporation has a one year low of $170.48 and a one year high of $296.16. The business's 50 day simple moving average is $261.91 and its 200 day simple moving average is $247.14. The stock has a market capitalization of $271.84 billion, a PE ratio of 50.34, a PEG ratio of 6.11 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last announced 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 return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the company earned $1.68 earnings per share. The company's quarterly revenue was up .5% on a year-over-year basis. As a group, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.30%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

International Business Machines 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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