Red Door Wealth Management LLC Lowers Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Red Door Wealth Management LLC lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 36.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,267 shares of the technology company's stock after selling 1,874 shares during the quarter. Red Door Wealth Management LLC's holdings in International Business Machines were worth $812,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Capital World Investors increased its stake in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. Norges Bank acquired a new stake in International Business Machines in the 4th quarter worth about $1,236,176,000. GAMMA Investing LLC grew its holdings in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after buying an additional 4,384,958 shares during the period. Raymond James Financial Inc. acquired a new position in shares of International Business Machines during the 4th quarter valued at about $592,746,000. Finally, Northern Trust Corp increased its stake in shares of International Business Machines by 18.6% during 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 acquiring an additional 1,704,209 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IBM shares. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. UBS Group reissued a "sell" rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $253.75.

International Business Machines Price Performance

Shares of NYSE IBM opened at $289.69 on Monday. 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 1-year low of $173.38 and a 1-year high of $296.16. The company has a market capitalization of $269.24 billion, a price-to-earnings ratio of 49.86, a PEG ratio of 6.08 and a beta of 0.66. The business has a 50-day moving average of $262.93 and a 200-day moving average of $247.77.

International Business Machines (NYSE:IBM - Get Free Report) last released 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 return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the prior year, the business earned $1.68 EPS. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. International Business Machines's dividend payout ratio is 115.66%.

About International Business Machines

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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