Principle Wealth Partners LLC reduced its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,905 shares of the technology company's stock after selling 1,219 shares during the period. International Business Machines makes up about 1.0% of Principle Wealth Partners LLC's investment portfolio, making the stock its 25th largest position. Principle Wealth Partners LLC's holdings in International Business Machines were worth $13,901,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Lifeworks Advisors LLC grew its stake in International Business Machines by 7.7% during the 1st quarter. Lifeworks Advisors LLC now owns 35,887 shares of the technology company's stock valued at $8,924,000 after acquiring an additional 2,561 shares in the last quarter. Journey Strategic Wealth LLC grew its stake in International Business Machines by 58.5% during the 1st quarter. Journey Strategic Wealth LLC now owns 15,671 shares of the technology company's stock valued at $3,897,000 after acquiring an additional 5,782 shares in the last quarter. Advisor OS LLC grew its stake in International Business Machines by 8.2% during the 1st quarter. Advisor OS LLC now owns 8,571 shares of the technology company's stock valued at $2,131,000 after acquiring an additional 648 shares in the last quarter. Northern Financial Advisors Inc grew its stake in International Business Machines by 1.2% during the 1st quarter. Northern Financial Advisors Inc now owns 7,054 shares of the technology company's stock valued at $1,754,000 after acquiring an additional 83 shares in the last quarter. Finally, Opes Wealth Management LLC grew its stake in International Business Machines by 5.4% during the 1st quarter. Opes Wealth Management LLC now owns 984 shares of the technology company's stock valued at $245,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. UBS Group lifted their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday. Bank of America reduced their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday. Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Royal Bank Of Canada lifted their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and an average target price of $268.75.
Read Our Latest Analysis on International Business Machines
International Business Machines Price Performance
NYSE:IBM traded down $0.81 during trading hours on Friday, reaching $259.70. The company had a trading volume of 7,751,998 shares, compared to its average volume of 4,403,863. The stock has a 50-day moving average of $277.69 and a two-hundred day moving average of $256.04. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The firm has a market capitalization of $241.36 billion, a PE ratio of 42.16, a PEG ratio of 5.50 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.
International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the prior year, the firm posted $2.43 earnings per share. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.
International Business Machines Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.59%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.
International Business Machines Profile
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Free Report)
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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