International Business Machines Co. (NYSE:IBM) Shares Sold by Hemington Wealth Management

Hemington Wealth Management reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 22.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,180 shares of the technology company’s stock after selling 617 shares during the period. Hemington Wealth Management’s holdings in International Business Machines were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Howland Capital Management LLC boosted its stake in shares of International Business Machines by 1.0% in the first quarter. Howland Capital Management LLC now owns 8,319 shares of the technology company’s stock worth $1,589,000 after buying an additional 84 shares during the last quarter. Buck Wealth Strategies LLC purchased a new stake in shares of International Business Machines in the first quarter worth about $3,127,000. Team Hewins LLC boosted its stake in shares of International Business Machines by 3.8% in the first quarter. Team Hewins LLC now owns 5,963 shares of the technology company’s stock worth $1,139,000 after buying an additional 219 shares during the last quarter. Csenge Advisory Group boosted its stake in shares of International Business Machines by 3.6% in the first quarter. Csenge Advisory Group now owns 12,331 shares of the technology company’s stock worth $2,355,000 after buying an additional 423 shares during the last quarter. Finally, Capital Management Associates NY boosted its stake in shares of International Business Machines by 11.1% in the first quarter. Capital Management Associates NY now owns 5,000 shares of the technology company’s stock worth $955,000 after buying an additional 500 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $0.45 during mid-day trading on Thursday, reaching $178.29. 2,806,788 shares of the stock traded hands, compared to its average volume of 4,450,637. The business has a 50-day moving average of $170.54 and a 200 day moving average of $177.29. International Business Machines Co. has a fifty-two week low of $132.57 and a fifty-two week high of $199.18. The stock has a market capitalization of $163.78 billion, a PE ratio of 20.21, a PEG ratio of 4.38 and a beta of 0.71. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IBM. BMO Capital Markets lowered 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 note on Thursday, April 25th. Morgan Stanley lowered their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Jefferies Financial Group lowered their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.