Mitchell Sinkler & Starr PA Lowers Stock Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Mitchell Sinkler & Starr PA reduced its holdings in IBM by 29.6%, selling 1,465 shares, leaving them with 3,485 shares valued at $867,000.
• Several hedge funds have increased their positions in IBM, with notable contributions including a 92.3% stake increase by Inspire Advisors LLC, bringing their total to 3,846 shares valued at $956,000.
• After recent earnings reports, analysts have set new price targets for IBM, with Goldman Sachs raising theirs from $270 to $310 and maintaining a "buy" rating.

Mitchell Sinkler & Starr PA cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,485 shares of the technology company's stock after selling 1,465 shares during the period. Mitchell Sinkler & Starr PA's holdings in International Business Machines were worth $867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines in the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the fourth quarter worth approximately $43,000. Park Square Financial Group LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $43,000. Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines in the fourth quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of International Business Machines in the first quarter worth approximately $45,000. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Wedbush increased their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Finally, Morgan Stanley reduced their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Performance

NYSE:IBM traded down $0.81 on Friday, hitting $259.70. The stock had a trading volume of 7,751,998 shares, compared to its average volume of 4,613,670. The stock has a market cap of $241.36 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 4.01 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The business's 50-day simple moving average is $277.69 and its two-hundred day simple moving average is $256.27. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.43 earnings per share. As a group, research analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.59%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.

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.