Portside Wealth Group LLC Has $1.61 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Portside Wealth Group LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 49.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,489 shares of the technology company's stock after selling 6,454 shares during the quarter. Portside Wealth Group LLC's holdings in International Business Machines were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its holdings in shares of International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines in the fourth quarter worth about $242,000. Truist Financial Corp boosted its holdings in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after buying an additional 49,591 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth about $3,000,000. Finally, QRG Capital Management Inc. boosted its holdings in shares of International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock worth $33,118,000 after buying an additional 10,467 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM stock traded down $0.83 on Thursday, reaching $280.69. 3,413,514 shares of the company were exchanged, compared to its average volume of 4,229,734. International Business Machines Co. has a 12 month low of $167.23 and a 12 month high of $282.97. The stock's fifty day moving average price is $250.36 and its 200 day moving average price is $242.96. The firm has a market capitalization of $260.87 billion, a PE ratio of 43.79, a PEG ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly 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 quarter in the previous year, the company earned $1.68 earnings per share. The business's revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal 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 paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wedbush restated an "outperform" rating and set a $300.00 price target on shares of International Business Machines in a report on Wednesday, May 7th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group reaffirmed a "sell" rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada raised their price objective 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $250.31.

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.