TruWealth Advisors LLC Sells 22,992 Shares of International Business Machines Co. (NYSE:IBM)

TruWealth Advisors LLC cut its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,010 shares of the technology company's stock after selling 22,992 shares during the quarter. International Business Machines accounts for 1.5% of TruWealth Advisors LLC's investment portfolio, making the stock its 21st largest holding. TruWealth Advisors LLC's holdings in International Business Machines were worth $25,117,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Treasurer of the State of North Carolina increased its position in shares of International Business Machines by 0.8% during the fourth 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 bought a new stake in International Business Machines during the 4th quarter worth approximately $242,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth approximately $373,000. Truist Financial Corp boosted its position in shares of International Business Machines by 6.5% during the fourth 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 during the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in International Business Machines during the fourth quarter worth $3,000,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. UBS Group reaffirmed a "sell" rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. 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 given a strong buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus target price of $249.06.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $1.23 during trading on Thursday, hitting $266.75. The company had a trading volume of 2,655,316 shares, compared to its average volume of 4,210,077. The stock has a 50 day simple moving average of $247.45 and a 200 day simple moving average of $240.98. The firm has a market capitalization of $247.92 billion, a P/E ratio of 41.61, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 12 month low of $165.78 and a 12 month high of $269.28.

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

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.52%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

International Business Machines Company 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.