KMG Fiduciary Partners LLC Sells 1,055 Shares of International Business Machines Co. (NYSE:IBM)

KMG Fiduciary Partners LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,173 shares of the technology company's stock after selling 1,055 shares during the quarter. KMG Fiduciary Partners LLC's holdings in International Business Machines were worth $7,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IBM. Capital World Investors grew its position in 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 worth $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank bought a new stake in International Business Machines during the fourth quarter worth approximately $1,236,176,000. GAMMA Investing LLC lifted its stake in shares of International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $592,746,000. Finally, Northern Trust Corp increased its position in shares of International Business Machines by 18.6% during the 4th 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 last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBM. Bank of America raised their price target on International Business Machines from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday. Oppenheimer started coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 target price on the stock. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, Morgan Stanley dropped their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines has an average rating of "Hold" and an average price target of $250.31.

International Business Machines Stock Up 1.2%

Shares of IBM traded up $3.26 during midday trading on Monday, reaching $272.13. 4,330,887 shares of the stock were exchanged, compared to its average volume of 4,219,305. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company's 50 day moving average is $248.17 and its two-hundred day moving average is $242.11. The company has a market capitalization of $252.92 billion, a P/E ratio of 42.45, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 52 week low of $166.81 and a 52 week high of $273.41.

International Business Machines (NYSE:IBM - Get Free Report) last issued its 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 net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the prior year, the business earned $1.68 EPS. The firm's quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.47%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

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.