International Business Machines Corporation (NYSE:IBM) Shares Sold by Valley Wealth Managers Inc.

Key Points

• Valley Wealth Managers Inc. reduced its stake in International Business Machines Corporation by 12.2% in Q1, selling 2,611 shares, leaving them with 18,735 shares valued at approximately $4.66 million.
• International Business Machines reported a 7.7% year-over-year increase in revenue, totaling $16.98 billion, and beat analysts' earnings estimates in their latest quarterly report.
• The company recently increased its quarterly dividend from $1.67 to $1.68 per share, resulting in an annual dividend yield of 2.59%.

Valley Wealth Managers Inc. lowered its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 12.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,735 shares of the technology company's stock after selling 2,611 shares during the period. Valley Wealth Managers Inc.'s holdings in International Business Machines were worth $4,659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc acquired a new position in International Business Machines in the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Park Square Financial Group LLC bought a new stake in International Business Machines during the 4th quarter worth approximately $43,000. Mascagni Wealth Management Inc. purchased a new position in International Business Machines during the 4th quarter worth $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of International Business Machines during the first quarter valued at about $45,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

IBM traded down $0.81 on Friday, hitting $259.70. 7,751,998 shares of the company's stock were exchanged, compared to its average volume of 4,403,863. The firm has a 50-day moving average price of $277.69 and a 200-day moving average price of $256.04. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a market cap of $241.36 billion, a price-to-earnings ratio of 42.16, a P/E/G ratio of 5.50 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16.

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

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 2.59%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 109.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IBM shares. Wedbush raised their target price 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. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday. Bank of America cut their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday. Finally, UBS Group increased their target price on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.