Stonegate Investment Group LLC Sells 309,455 Shares of International Business Machines Co. (NYSE:IBM)

Stonegate Investment Group LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 90.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,284 shares of the technology company's stock after selling 309,455 shares during the period. Stonegate Investment Group LLC's holdings in International Business Machines were worth $6,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Naples Money Management LLC purchased a new position in International Business Machines during the 4th quarter valued at about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the fourth quarter valued at about $29,000. Briaud Financial Planning Inc purchased a new position in International Business Machines in the third quarter valued at about $31,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines in the fourth quarter worth about $31,000. Finally, Stone House Investment Management LLC lifted its position in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company's stock valued at $32,000 after buying an additional 204 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE:IBM traded down $1.24 during trading hours on Tuesday, reaching $166.19. The company had a trading volume of 6,010,206 shares, compared to its average volume of 5,023,267. The business's 50 day moving average price is $186.85 and its 200-day moving average price is $170.91. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18. The firm has a market cap of $152.35 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 4.08 and a beta of 0.70. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 earnings per share. Research analysts forecast that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 4.02%. This is an increase from International Business Machines's previous quarterly dividend of $1.66. International Business Machines's dividend payout ratio is 75.20%.

Analysts Set New Price Targets

IBM has been the topic of a number of analyst reports. Wedbush lifted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, April 25th. Evercore raised International Business Machines from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Stifel Nicolaus reissued a "buy" rating and issued a $190.00 price objective on shares of International Business Machines in a research report on Wednesday, April 17th. BMO Capital Markets reduced their target price on International Business Machines from $210.00 to $190.00 and set a "market perform" rating on the stock in a research report on Thursday, April 25th. Finally, Evercore ISI upgraded International Business Machines from an "in-line" rating to an "outperform" rating and increased their price target for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of "Hold" and a consensus target price 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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM - Free Report).

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.