International Business Machines Corporation (NYSE:IBM) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,123 shares of the technology company's stock after selling 9,955 shares during the quarter. International Business Machines accounts for 1.3% of First Horizon Advisors Inc.'s portfolio, making the stock its 10th largest position. First Horizon Advisors Inc.'s holdings in International Business Machines were worth $46,530,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC bought a new position in International Business Machines during the fourth quarter worth $35,000. Park Square Financial Group LLC bought a new position in International Business Machines during the fourth quarter worth $43,000. Park Place Capital Corp increased its stake in International Business Machines by 42.6% in the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after purchasing an additional 58 shares in the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $4.01 on Thursday, reaching $291.66. The company's stock had a trading volume of 1,853,289 shares, compared to its average volume of 4,223,087. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $271.06 billion, a P/E ratio of 50.20, a PEG ratio of 6.04 and a beta of 0.69. The stock has a 50-day moving average price of $265.93 and a 200-day moving average price of $248.79. International Business Machines Corporation has a 52-week low of $173.95 and a 52-week 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 expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This is an increase 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 is 115.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush upped their price target 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 price objective on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $257.50.

About International Business Machines

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.