Richard Bernstein Advisors LLC Sells 942 Shares of International Business Machines Corporation (NYSE:IBM)

Richard Bernstein Advisors LLC lowered its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,467 shares of the technology company's stock after selling 942 shares during the quarter. Richard Bernstein Advisors LLC's holdings in International Business Machines were worth $4,841,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of IBM. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $35,000. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of NYSE IBM traded down $2.95 during mid-day trading on Thursday, reaching $287.19. 3,484,539 shares of the company were exchanged, compared to its average volume of 4,233,234. International Business Machines Corporation has a 52 week low of $174.45 and a 52 week high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $266.91 billion, a PE ratio of 49.43, a PEG ratio of 6.10 and a beta of 0.69. The company's 50 day moving average price is $271.47 and its 200 day moving average price is $251.07.

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. Sell-side 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 firm 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 is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.34%. International Business Machines's payout ratio is currently 115.66%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IBM shares. Bank of America raised their price target on shares of International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Royal Bank Of Canada lifted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and a consensus target price of $259.06.

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.