SRN Advisors LLC Sells 601 Shares of International Business Machines Co. (NYSE:IBM)

SRN Advisors LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 9,141 shares of the technology company’s stock after selling 601 shares during the period. International Business Machines makes up 1.4% of SRN Advisors LLC’s investment portfolio, making the stock its 15th biggest position. SRN Advisors LLC’s holdings in International Business Machines were worth $1,746,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IBM. Desjardins Global Asset Management Inc. boosted its holdings in International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares during the last quarter. Arden Trust Co increased its position in International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after acquiring an additional 54 shares during the last quarter. Calamos Wealth Management LLC boosted its position in International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after purchasing an additional 55 shares during the last quarter. Avion Wealth boosted its position in International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its position in International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 58 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBM. Royal Bank of Canada boosted their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. JPMorgan Chase & Co. cut their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Stifel Nicolaus boosted their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Wedbush increased their target price on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $184.93.

International Business Machines Trading Down 0.3 %

NYSE:IBM traded down $0.54 during mid-day trading on Friday, hitting $189.12. 4,548,824 shares of the stock traded hands, compared to its average volume of 3,874,536. The stock has a market capitalization of $174.21 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $199.18. The firm’s 50 day moving average is $176.64 and its two-hundred day moving average is $180.17. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.06 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.53%. International Business Machines’s dividend payout ratio is currently 75.65%.

About International Business Machines

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.