Richard C. Young & CO. LTD. Sells 1,249 Shares of International Business Machines Corporation (NYSE:IBM)

Richard C. Young & CO. LTD. reduced its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,485 shares of the technology company's stock after selling 1,249 shares during the period. International Business Machines comprises approximately 1.7% of Richard C. Young & CO. LTD.'s holdings, making the stock its 25th largest holding. Richard C. Young & CO. LTD.'s holdings in International Business Machines were worth $16,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its position in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after buying an additional 2,323 shares during the period. Proficio Capital Partners LLC increased its position in International Business Machines by 81.5% in the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock worth $591,000 after buying an additional 1,206 shares during the period. Harbour Investments Inc. increased its position in International Business Machines by 9.8% in the fourth quarter. Harbour Investments Inc. now owns 6,813 shares of the technology company's stock worth $1,498,000 after buying an additional 608 shares during the period. Axxcess Wealth Management LLC increased its position in International Business Machines by 7.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 18,981 shares of the technology company's stock worth $4,173,000 after buying an additional 1,315 shares during the period. Finally, Compass Ion Advisors LLC increased its position in International Business Machines by 3.7% in the fourth quarter. Compass Ion Advisors LLC now owns 10,648 shares of the technology company's stock worth $2,341,000 after buying an additional 375 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America increased their price target on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. UBS Group reissued a "sell" rating and issued a $195.00 price target (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday, July 9th. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Finally, KGI Securities set a $242.00 price target on International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $266.19.

International Business Machines Trading Up 1.4%

Shares of NYSE:IBM traded up $4.04 during midday trading on Friday, reaching $286.04. The company had a trading volume of 4,465,031 shares, compared to its average volume of 4,227,467. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The firm has a market cap of $265.85 billion, a price-to-earnings ratio of 49.23, a price-to-earnings-growth ratio of 5.92 and a beta of 0.69. The company has a fifty day simple moving average of $275.65 and a two-hundred day simple moving average of $253.56.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $14.41 billion. During the same period in the prior year, the business earned $1.68 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. Research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.35%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

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.