PBMares Wealth Management LLC Sells 1,519 Shares of International Business Machines Corporation (NYSE:IBM)

PBMares Wealth Management LLC trimmed its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 20.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,045 shares of the technology company's stock after selling 1,519 shares during the quarter. PBMares Wealth Management LLC's holdings in International Business Machines were worth $1,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco LLC grew its stake in shares of International Business Machines by 15.4% during the first quarter. Invesco LLC now owns 1,147 shares of the technology company's stock worth $285,000 after purchasing an additional 153 shares during the period. Berry Wealth Group LP lifted its stake in International Business Machines by 24.8% in the first quarter. Berry Wealth Group LP now owns 1,722 shares of the technology company's stock valued at $428,000 after buying an additional 342 shares during the period. Retirement Guys Formula LLC boosted its holdings in International Business Machines by 88.0% during the first quarter. Retirement Guys Formula LLC now owns 2,126 shares of the technology company's stock worth $516,000 after buying an additional 995 shares during the last quarter. Petros Family Wealth LLC grew its position in shares of International Business Machines by 3.5% during the 1st quarter. Petros Family Wealth LLC now owns 4,270 shares of the technology company's stock worth $1,062,000 after buying an additional 145 shares during the period. Finally, Ledyard National Bank increased its stake in shares of International Business Machines by 2.8% in the 1st quarter. Ledyard National Bank now owns 16,476 shares of the technology company's stock valued at $4,097,000 after acquiring an additional 444 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 0.8%

IBM stock traded down $2.41 during mid-day trading on Wednesday, reaching $291.38. The company had a trading volume of 3,859,560 shares, compared to its average volume of 4,217,322. The company has a market capitalization of $270.81 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 6.07 and a beta of 0.66. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $296.07. The stock has a 50 day simple moving average of $259.78 and a two-hundred day simple moving average of $246.40. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating 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 return on equity of 37.43% and a net margin of 8.71%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IBM shares. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. UBS Group reissued a "sell" rating and set 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 restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada raised their price target on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. 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 assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and an average price target of $253.75.

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.