International Business Machines Co. (NYSE:IBM) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 17.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,177 shares of the technology company's stock after selling 4,780 shares during the quarter. International Business Machines accounts for approximately 1.6% of Argyle Capital Management Inc.'s portfolio, making the stock its 17th largest holding. Argyle Capital Management Inc.'s holdings in International Business Machines were worth $3,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Del Sette Capital Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $1,876,000. Marco Investment Management LLC boosted its position in International Business Machines by 20.1% during the fourth quarter. Marco Investment Management LLC now owns 9,689 shares of the technology company's stock worth $1,585,000 after acquiring an additional 1,620 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in International Business Machines by 17.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 4,933 shares of the technology company's stock worth $807,000 after acquiring an additional 735 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in International Business Machines by 21.2% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,086 shares of the technology company's stock worth $178,000 after acquiring an additional 190 shares during the last quarter. Finally, Stonebrook Private Inc. acquired a new stake in International Business Machines during the fourth quarter worth approximately $354,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 1.1 %

IBM stock traded down $1.78 during mid-day trading on Friday, hitting $167.13. 8,983,796 shares of the company were exchanged, compared to its average volume of 3,906,041. The company has a market capitalization of $153.21 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.93 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The firm has a fifty day simple moving average of $187.60 and a 200 day simple moving average of $170.53.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 EPS. On average, research analysts forecast that International Business Machines Co. will post 9.99 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, February 8th. International Business Machines's dividend payout ratio (DPR) is 75.20%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Evercore upgraded shares of International Business Machines from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. BMO Capital Markets cut their price target on shares of International Business Machines from $210.00 to $190.00 and set a "market perform" rating on the stock in a research note on Thursday. Wedbush increased their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday. Morgan Stanley cut their price target on shares of International Business Machines from $186.00 to $179.00 and set an "equal weight" rating on the stock in a research note on Friday. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $190.00 price target on shares of International Business Machines in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $184.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.