International Business Machines Co. (NYSE:IBM) Shares Sold by Strategic Planning Group LLC

Strategic Planning Group LLC reduced its position in International Business Machines Co. (NYSE:IBM - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,158 shares of the technology company's stock after selling 6,194 shares during the period. International Business Machines comprises about 1.4% of Strategic Planning Group LLC's portfolio, making the stock its 24th biggest holding. Strategic Planning Group LLC's holdings in International Business Machines were worth $7,002,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IBM. Treasurer of the State of North Carolina increased its holdings in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $242,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $373,000. Truist Financial Corp lifted its stake in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after buying an additional 49,591 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in International Business Machines in the 4th quarter worth about $3,000,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on IBM. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target for the company. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Morgan Stanley dropped their price objective on shares of 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. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $249.06.

International Business Machines Stock Up 0.5%

International Business Machines stock traded up $1.23 during trading on Thursday, reaching $266.75. The stock had a trading volume of 2,655,316 shares, compared to its average volume of 4,210,076. International Business Machines Co. has a 52-week low of $165.78 and a 52-week high of $269.28. The business has a 50 day moving average price of $247.45 and a 200 day moving average price of $240.98. The stock has a market cap of $247.92 billion, a PE ratio of 41.61, a P/E/G ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. On average, analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.52%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

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.