Janney Capital Management LLC Sells 24,123 Shares of International Business Machines Corporation (NYSE:IBM)

Janney Capital Management LLC lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,206 shares of the technology company's stock after selling 24,123 shares during the quarter. International Business Machines makes up approximately 1.0% of Janney Capital Management LLC's portfolio, making the stock its 24th largest holding. Janney Capital Management LLC's holdings in International Business Machines were worth $15,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. Geode Capital Management LLC raised its position in shares of International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors raised its position in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Northern Trust Corp raised 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 purchasing an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after purchasing an additional 722,582 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 0.0%

Shares of NYSE:IBM opened at $283.15 on Thursday. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $286.91. 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 company's fifty day moving average is $255.73 and its 200-day moving average is $244.81. The company has a market capitalization of $263.16 billion, a PE ratio of 48.74, a P/E/G ratio of 5.94 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The firm's revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IBM shares. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wedbush reaffirmed an "outperform" rating and set a $300.00 target price on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, BMO Capital Markets reaffirmed a "market perform" rating 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 given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus target price of $252.19.

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.

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