International Business Machines Co. (NYSE:IBM) Shares Sold by Heritage Financial Services LLC

Heritage Financial Services LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 16.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,220 shares of the technology company’s stock after selling 830 shares during the quarter. Heritage Financial Services LLC’s holdings in International Business Machines were worth $730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Auxano Advisors LLC boosted its stake in International Business Machines by 4.8% in the fourth quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock valued at $556,000 after acquiring an additional 156 shares in the last quarter. West Family Investments Inc. lifted its holdings in shares of International Business Machines by 7.6% in the 4th quarter. West Family Investments Inc. now owns 2,736 shares of the technology company’s stock valued at $447,000 after purchasing an additional 194 shares during the last quarter. Mosley Wealth Management purchased a new position in International Business Machines during the 4th quarter worth approximately $312,000. Hodges Capital Management Inc. grew its stake in International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after buying an additional 7,768 shares during the last quarter. Finally, Burns J W & Co. Inc. NY increased its position in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after buying an additional 250 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE IBM traded down $1.25 during trading on Thursday, hitting $195.96. 1,961,794 shares of the company were exchanged, compared to its average volume of 4,290,561. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $199.18. The company has a market cap of $180.01 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 4.24 and a beta of 0.71. The firm’s fifty day moving average price is $182.72 and its 200 day moving average price is $181.25.

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

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.41%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBM. BNP Paribas assumed coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. BMO Capital Markets raised their price target on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group began coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $184.93.

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.