Northcape Wealth Management LLC Sells 1,392 Shares of International Business Machines Corporation (NYSE:IBM)

Northcape Wealth Management LLC lessened its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,619 shares of the technology company's stock after selling 1,392 shares during the period. International Business Machines makes up approximately 1.5% of Northcape Wealth Management LLC's investment portfolio, making the stock its 17th largest position. Northcape Wealth Management LLC's holdings in International Business Machines were worth $4,630,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in IBM. Vision Financial Markets LLC bought a new stake in shares of International Business Machines during the fourth quarter worth approximately $31,000. Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $35,000. Tacita Capital Inc raised its position in shares of International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after buying an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $2.24 during trading on Friday, hitting $289.69. 3,560,346 shares of the company were exchanged, compared to its average volume of 4,223,880. The business's 50 day moving average is $262.93 and its 200-day moving average is $247.66. The company has a market capitalization of $269.24 billion, a P/E ratio of 49.86, a price-to-earnings-growth ratio of 6.08 and a beta of 0.66. 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 $173.38 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly 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. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 earnings per share. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. International Business Machines's dividend payout ratio is 115.66%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IBM. Bank of America lifted their price target on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Royal Bank Of Canada lifted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. UBS Group reiterated a "sell" rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Wedbush boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $253.75.

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.