International Business Machines Corporation (NYSE:IBM) Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC decreased its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,570 shares of the technology company's stock after selling 1,699 shares during the period. International Business Machines accounts for 4.3% of Minneapolis Portfolio Management Group LLC's portfolio, making the stock its 7th largest position. Minneapolis Portfolio Management Group LLC's holdings in International Business Machines were worth $30,727,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in IBM. Rialto Wealth Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at approximately $35,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of International Business Machines during the 1st quarter valued at $45,000. Park Square Financial Group LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at $43,000. Park Place Capital Corp increased its position in shares of International Business Machines by 42.6% during the 1st 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 during the period. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines during the 4th quarter valued at $43,000. Institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush lifted 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. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $257.50.

International Business Machines Stock Up 0.1%

Shares of International Business Machines stock traded up $0.38 during midday trading on Monday, hitting $292.35. The company's stock had a trading volume of 4,486,500 shares, compared to its average volume of 4,232,695. The firm has a market capitalization of $271.71 billion, a P/E ratio of 50.32, a PEG ratio of 6.13 and a beta of 0.69. The stock has a 50-day simple moving average of $268.36 and a 200-day simple moving average of $250.04. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 1-year low of $174.45 and a 1-year 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 earnings per share. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

International Business Machines Company 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.