Stephens Inc. AR Sells 3,799 Shares of International Business Machines Corporation $IBM

Key Points

• Stephens Inc. AR trimmed its IBM stake by 5.4% in the first quarter, selling 3,799 shares and leaving it with 67,057 shares valued at about $16.3 million.
• IBM’s latest results topped expectations, with quarterly EPS of $1.91 versus the $1.81 estimate and revenue of $15.92 billion, up 9.5% year over year.
• The company raised its dividend to $1.69 per quarter, or $6.76 annualized, while analysts remain broadly constructive with a consensus rating of “Moderate Buy” and an average price target of $306.76.

Stephens Inc. AR reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,057 shares of the technology company's stock after selling 3,799 shares during the period. Stephens Inc. AR's holdings in International Business Machines were worth $16,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CVA Family Office LLC boosted its stake in International Business Machines by 1.4% in the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock worth $708,000 after purchasing an additional 33 shares during the period. Foster Group Inc. grew its holdings in International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock valued at $742,000 after buying an additional 33 shares in the last quarter. New Covenant Trust Company N.A. increased its position in shares of International Business Machines by 3.8% during the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock valued at $264,000 after buying an additional 33 shares during the period. McGowan Group Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.2% in the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock worth $798,000 after buying an additional 33 shares in the last quarter. Finally, Altman Advisors Inc. lifted its holdings in shares of International Business Machines by 0.3% in the third quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company's stock worth $2,802,000 after buying an additional 34 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.2%

IBM stock opened at $288.95 on Monday. The company's 50 day moving average is $256.99 and its 200 day moving average is $266.06. The stock has a market cap of $271.58 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. International Business Machines's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. Sell-side analysts predict that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBM. KeyCorp cut shares of International Business Machines to a "sector weight" rating in a research note on Tuesday, June 23rd. Citigroup raised their price target on shares of International Business Machines from $285.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Wedbush set a $350.00 price target on shares of International Business Machines in a research report on Tuesday, June 2nd. Piper Sandler raised shares of International Business Machines to an "overweight" rating in a report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. upgraded International Business Machines from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $270.00 to $291.00 in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and an average price target of $306.76.

International Business Machines Company 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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