RFG Advisory LLC Sells 12,132 Shares of International Business Machines Co. (NYSE:IBM)

RFG Advisory LLC cut its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 41.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,818 shares of the technology company's stock after selling 12,132 shares during the quarter. RFG Advisory LLC's holdings in International Business Machines were worth $4,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of IBM. Capital World Investors lifted 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 worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank bought a new position in International Business Machines in the 4th quarter worth $1,236,176,000. GAMMA Investing LLC raised 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 worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of International Business Machines in the 4th quarter worth about $592,746,000. Finally, Northern Trust Corp boosted 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 purchasing an additional 1,704,209 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on IBM. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. UBS Group reiterated a "sell" rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush reissued an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a research report on Wednesday, May 7th. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average price target of $249.06.

International Business Machines Stock Up 0.5%

Shares of NYSE:IBM traded up $1.23 during trading on Thursday, reaching $266.75. 2,655,316 shares of the stock traded hands, compared to its average volume of 4,210,076. The stock has a market cap of $247.92 billion, a P/E ratio of 41.61, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a 50-day moving average of $247.45 and a two-hundred day moving average of $240.98. International Business Machines Co. has a 52-week low of $165.78 and a 52-week high of $269.28.

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. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts expect 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. Stockholders of record on Friday, May 9th will be paid a $1.68 dividend. This is a positive change 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 2.52%. International Business Machines's payout ratio is currently 115.66%.

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.