Savant Capital LLC Sells 21,551 Shares of International Business Machines Corporation $IBM

Key Points

• Savant Capital LLC reduced its IBM stake by 34.6% in the fourth quarter, selling 21,551 shares and leaving it with 40,687 shares worth about $12.05 million.
• IBM continues to draw positive analyst attention, with Wedbush reiterating an Outperform rating and setting a $320 target; the stock now carries a consensus Moderate Buy rating and an average price target of $294.41.
• The company reported solid results and raised its dividend, beating quarterly EPS and revenue estimates, while increasing its quarterly payout to $1.69 per share for a 2.3% yield.

Savant Capital LLC cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 34.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,687 shares of the technology company's stock after selling 21,551 shares during the period. Savant Capital LLC's holdings in International Business Machines were worth $12,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Family CFO Inc purchased a new stake in International Business Machines during the fourth quarter valued at approximately $25,000. Joseph Group Capital Management purchased a new stake in International Business Machines during the fourth quarter valued at approximately $28,000. SWAN Capital LLC purchased a new stake in International Business Machines during the third quarter valued at approximately $28,000. DecisionPoint Financial LLC raised its position in International Business Machines by 1,666.7% during the fourth quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company's stock valued at $31,000 after purchasing an additional 100 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new stake in International Business Machines during the fourth quarter valued at approximately $31,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on IBM. Wedbush restated an "outperform" rating and set a $320.00 price objective on shares of International Business Machines in a research report on Friday. BMO Capital Markets cut their target price on International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a research note on Thursday, April 23rd. HSBC raised International Business Machines from a "reduce" rating to a "hold" rating and upped their target price for the company from $218.00 to $231.00 in a research note on Tuesday, April 28th. Stifel Nicolaus set a $290.00 target price on International Business Machines in a research note on Friday, May 22nd. Finally, Jefferies Financial Group cut their target price on International Business Machines from $370.00 to $320.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $294.41.

International Business Machines News Summary

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM unveiled a more than $10 billion quantum computing investment plan, reinforcing its leadership in an emerging high-growth market. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: IBM and Red Hat launched Project Lightwell, a $5 billion push to secure open-source software with AI tools and 20,000 engineers, which could strengthen its enterprise security franchise. IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era
• Positive Sentiment: Wedbush reiterated an Outperform rating and raised its target to $320, signaling continued analyst confidence in IBM’s upside. IBM Is Chasing A '$1 Trillion Value Creation Engine' — And It's Spending $15 Billion To Get There

International Business Machines Trading Up 12.9%

IBM opened at $298.26 on Friday. The stock has a market cap of $280.33 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 2.74 and a beta of 0.58. The stock's 50 day moving average price is $240.16 and its 200-day moving average price is $270.98. International Business Machines Corporation has a one year low of $212.34 and a one year high of $324.90. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. International Business Machines's revenue was up 9.5% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 2.3%. This is an increase from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, May 8th. International Business Machines's payout ratio is currently 59.77%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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