Raleigh Capital Management Inc. Sells 7,097 Shares of International Business Machines Corporation (NYSE:IBM)

Raleigh Capital Management Inc. lessened its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 76.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,199 shares of the technology company's stock after selling 7,097 shares during the period. Raleigh Capital Management Inc.'s holdings in International Business Machines were worth $547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. Vanguard Group Inc. increased its stake in International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC increased its stake in International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after buying an additional 427,499 shares during the last quarter. Capital World Investors increased its stake in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Northern Trust Corp increased its stake in International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in International Business Machines by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after buying an additional 722,582 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

NYSE:IBM traded down $2.07 during trading hours on Tuesday, hitting $290.40. The stock had a trading volume of 565,030 shares, compared to its average volume of 4,218,677. The company has a 50 day simple moving average of $269.48 and a two-hundred day simple moving average of $250.52. 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 Corporation has a one year low of $174.45 and a one year high of $296.16. The firm has a market capitalization of $269.90 billion, a price-to-earnings ratio of 49.87, a P/E/G ratio of 6.13 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the firm posted $1.68 EPS. The firm's revenue was up .5% compared to the same quarter last year. Research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

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

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. Royal Bank Of Canada increased their target price 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. Wedbush increased their target price 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. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. UBS Group reissued a "sell" rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has an average rating of "Hold" and an average target price of $257.50.

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.