International Business Machines Corporation (NYSE:IBM) Shares Sold by Ridgewood Investments LLC

Key Points

• Ridgewood Investments LLC reduced its holdings in IBM by 28.4%, now owning 3,348 shares worth approximately $833,000 after selling 1,325 shares in the first quarter.
• IBM's recent quarterly earnings report indicated an EPS of $2.80, surpassing estimates by $0.15, with revenues of $16.98 billion, up 7.7% year-over-year.
• The company recently increased its quarterly dividend to $1.68 per share, leading to an annualized dividend of $6.72 and a yield of 2.59%.

Ridgewood Investments LLC lowered its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 28.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,348 shares of the technology company's stock after selling 1,325 shares during the period. Ridgewood Investments LLC's holdings in International Business Machines were worth $833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital World Investors lifted its stake in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares during the last quarter. Northern Trust Corp lifted its position in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at $302,564,000. Finally, First Trust Advisors LP increased its position in International Business Machines by 26.4% during the 4th quarter. First Trust Advisors LP now owns 4,023,989 shares of the technology company's stock worth $884,593,000 after purchasing an additional 840,064 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE IBM opened at $259.70 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.97. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The firm has a market capitalization of $241.36 billion, a P/E ratio of 42.16, a P/E/G ratio of 5.50 and a beta of 0.69. The business's 50-day simple moving average is $277.69 and its 200-day simple moving average is $256.04.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. International Business Machines's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 earnings per share. Equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $1.68 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.59%. International Business Machines's payout ratio is presently 109.09%.

Analysts Set New Price Targets

A number of research firms have issued reports on IBM. Royal Bank Of Canada upped their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Stifel Nicolaus raised their target price on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

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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