SteelPeak Wealth LLC Cuts Stock Position in International Business Machines Corporation (NYSE:IBM)

SteelPeak Wealth LLC lowered its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 17.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,679 shares of the technology company's stock after selling 8,616 shares during the quarter. SteelPeak Wealth LLC's holdings in International Business Machines were worth $9,867,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Wealth Dimensions Group Ltd. raised its stake in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after buying an additional 40 shares during the period. Pallas Capital Advisors LLC raised its stake in International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after buying an additional 42 shares during the period. DMC Group LLC raised its stake in International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after buying an additional 42 shares during the period. Titleist Asset Management LLC raised its stake in International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after buying an additional 43 shares during the period. Finally, Range Financial Group LLC raised its stake in International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $4.10 on Friday, reaching $283.33. The company's stock had a trading volume of 3,789,706 shares, compared to its average volume of 4,240,258. International Business Machines Corporation has a 52-week low of $178.50 and a 52-week high of $296.16. The company has a market cap of $263.33 billion, a P/E ratio of 48.77, a PEG ratio of 6.04 and a beta of 0.69. The company has a 50-day simple moving average of $272.42 and a 200 day simple moving average of $251.52. 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 (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating 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 analyst estimates of $14.41 billion. During the same quarter last year, the business posted $1.68 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS 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. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Analysts Set New Price Targets

Several analysts recently commented on IBM shares. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group lifted their target price on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada boosted their price target on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Bank of America upped their target price on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, Morgan Stanley cut their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and an average price target 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.