Parsons Capital Management Inc. RI Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Parsons Capital Management Inc. RI reduced its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 104,839 shares of the technology company's stock after selling 7,441 shares during the quarter. International Business Machines comprises 1.4% of Parsons Capital Management Inc. RI's holdings, making the stock its 11th biggest position. Parsons Capital Management Inc. RI's holdings in International Business Machines were worth $26,069,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Rialto Wealth Management LLC bought a new position in International Business Machines during the fourth quarter worth about $35,000. Tacita Capital Inc grew its position in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after buying an additional 122 shares during the period. Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IBM shares. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Royal Bank of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Morgan Stanley dropped their price target on 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 analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and a consensus target price of $250.31.

International Business Machines Trading Down 0.3%

Shares of IBM traded down $0.83 during trading hours on Thursday, hitting $280.69. The company had a trading volume of 3,281,988 shares, compared to its average volume of 4,644,275. The stock's 50 day moving average price is $250.36 and its 200 day moving average price is $242.96. International Business Machines Co. has a 52-week low of $167.23 and a 52-week high of $283.06. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a market cap of $260.87 billion, a P/E ratio of 43.79, a P/E/G ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the firm earned $1.68 EPS. The company's revenue was up .5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.39%. 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.