Principal Street Partners LLC Sells 1,015 Shares of International Business Machines Co. (NYSE:IBM)

Principal Street Partners LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,649 shares of the technology company's stock after selling 1,015 shares during the quarter. International Business Machines comprises approximately 1.3% of Principal Street Partners LLC's portfolio, making the stock its 26th biggest position. Principal Street Partners LLC's holdings in International Business Machines were worth $6,518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in International Business Machines during the fourth quarter valued at $26,000. Vision Financial Markets LLC bought a new position in International Business Machines in the 4th quarter worth about $31,000. Valued Wealth Advisors LLC grew its position in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after purchasing an additional 90 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $35,000. Finally, Tacita Capital Inc grew its holdings in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company's stock.

International Business Machines Price Performance

Shares of IBM stock traded down $2.67 on Thursday, hitting $258.20. 3,087,483 shares of the stock traded hands, compared to its average volume of 4,211,014. The firm has a market cap of $239.97 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $269.28. The firm has a 50 day simple moving average of $244.79 and a two-hundred day simple moving average of $237.48. 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 announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 EPS. As a group, equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.60%. This is a boost 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 brokerages recently issued reports on IBM. Wedbush restated an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a report on Wednesday, May 7th. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, UBS Group restated a "sell" rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. One 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $249.06.

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.