Principal Financial Group Inc. Decreases Position in International Business Machines Corporation (NYSE:IBM)

Principal Financial Group Inc. lessened its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 0.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,076,010 shares of the technology company's stock after selling 4,871 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of International Business Machines worth $267,561,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. Vision Financial Markets LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $35,000. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the 4th quarter worth approximately $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at approximately $43,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of International Business Machines in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $4.01 during trading on Friday, reaching $291.66. The company's stock had a trading volume of 1,853,289 shares, compared to its average volume of 4,231,670. 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 12-month low of $174.45 and a 12-month high of $296.16. The company has a market capitalization of $271.06 billion, a P/E ratio of 50.20, a price-to-earnings-growth ratio of 6.13 and a beta of 0.69. The business has a 50 day moving average price of $268.36 and a 200-day moving average price of $250.04.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for 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%. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 earnings per share. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Wedbush lifted their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Royal Bank Of Canada lifted their target price on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. One 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 company. According to data from MarketBeat.com, International Business Machines presently has an average rating of "Hold" and a consensus price target of $257.50.

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.