Worth Asset Management LLC Sells 1,490 Shares of International Business Machines Co. (NYSE:IBM)

Worth Asset Management LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 42.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,018 shares of the technology company's stock after selling 1,490 shares during the quarter. Worth Asset Management LLC's holdings in International Business Machines were worth $502,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Treasurer of the State of North Carolina increased its stake in International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after purchasing an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $242,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at $373,000. Truist Financial Corp increased its holdings 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 worth $178,296,000 after buying an additional 49,591 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in International Business Machines in the 4th quarter worth about $3,000,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IBM shares. UBS Group reaffirmed a "sell" rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Morgan Stanley decreased their target price 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. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada increased their target price on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. One investment 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $249.06.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $1.48 during trading hours on Tuesday, reaching $265.38. The company's stock had a trading volume of 2,494,656 shares, compared to its average volume of 4,210,570. The stock has a market cap of $246.64 billion, a P/E ratio of 41.40, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a one year low of $163.53 and a one year high of $269.28. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a 50 day moving average price of $246.64 and a 200-day moving average price of $240.64.

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

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $1.68 per share. This is a positive change 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 2.53%. International Business Machines's dividend payout ratio (DPR) 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.