Patton Albertson Miller Group LLC Sells 5,904 Shares of International Business Machines Corporation (NYSE:IBM)

Patton Albertson Miller Group LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 22.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,647 shares of the technology company's stock after selling 5,904 shares during the quarter. Patton Albertson Miller Group LLC's holdings in International Business Machines were worth $5,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines during the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines in the 1st quarter worth $45,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. UBS Group reiterated a "sell" rating and issued a $195.00 price target (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday, July 9th. Morgan Stanley cut their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada boosted their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus price target of $266.19.

International Business Machines Trading Up 0.0%

Shares of International Business Machines stock opened at $282.04 on Friday. The firm has a market cap of $262.13 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 5.92 and a beta of 0.69. The business has a 50-day moving average price of $275.65 and a 200-day moving average price of $253.56. 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 twelve month low of $181.81 and a twelve month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share 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 analyst estimates 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 quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 earnings per share. Equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.38%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) 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.

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