Signature Wealth Management Group Sells 1,613 Shares of International Business Machines Corporation (NYSE:IBM)

Signature Wealth Management Group cut its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,512 shares of the technology company's stock after selling 1,613 shares during the quarter. International Business Machines makes up 1.8% of Signature Wealth Management Group's portfolio, making the stock its 14th largest position. Signature Wealth Management Group's holdings in International Business Machines were worth $4,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its position in International Business Machines by 15.6% during the 1st quarter. QRG Capital Management Inc. now owns 174,129 shares of the technology company's stock worth $43,299,000 after buying an additional 23,477 shares in the last quarter. Sentry LLC raised its holdings in shares of International Business Machines by 6.9% in the 1st quarter. Sentry LLC now owns 14,547 shares of the technology company's stock valued at $3,617,000 after purchasing an additional 937 shares during the period. Sagespring Wealth Partners LLC raised its holdings in shares of International Business Machines by 8.4% in the 1st quarter. Sagespring Wealth Partners LLC now owns 25,762 shares of the technology company's stock valued at $6,406,000 after purchasing an additional 1,991 shares during the period. Great Lakes Retirement Inc. raised its holdings in shares of International Business Machines by 2.7% in the 1st quarter. Great Lakes Retirement Inc. now owns 11,347 shares of the technology company's stock valued at $2,822,000 after purchasing an additional 294 shares during the period. Finally, Adero Partners LLC raised its holdings in shares of International Business Machines by 8.1% in the 1st quarter. Adero Partners LLC now owns 1,663 shares of the technology company's stock valued at $413,000 after purchasing an additional 124 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a report on Wednesday, May 7th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $252.19.

International Business Machines Price Performance

NYSE:IBM traded up $0.10 on Thursday, hitting $283.15. The company had a trading volume of 3,531,800 shares, compared to its average volume of 4,234,994. The stock has a market capitalization of $263.16 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 5.94 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The firm has a 50 day moving average of $255.73 and a two-hundred day moving average of $244.81. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $286.91.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 EPS. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 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.