FCG Investment Co Has $487,000 Stake in International Business Machines Co. (NYSE:IBM)

FCG Investment Co cut its holdings in International Business Machines Co. (NYSE:IBM) by 72.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,551 shares of the technology company’s stock after selling 6,850 shares during the period. FCG Investment Co’s holdings in International Business Machines were worth $487,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Naples Money Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the 4th quarter worth $31,000. Financial Gravity Asset Management Inc. increased its holdings in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. raised its position in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM traded down $1.57 on Thursday, hitting $175.73. The company’s stock had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. The company has a 50 day moving average price of $169.55 and a 200 day moving average price of $176.76. International Business Machines Co. has a fifty-two week low of $131.55 and a fifty-two week high of $199.18. The company has a market capitalization of $161.43 billion, a PE ratio of 19.90, a PEG ratio of 4.37 and a beta of 0.71. 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) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.80%. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IBM shares. The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. UBS Group upped their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. BNP Paribas started coverage on International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, BMO Capital Markets reduced their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $182.53.

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.