International Business Machines Corporation (NYSE:IBM) Shares Sold by Cwm LLC

Cwm LLC lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 13.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 119,086 shares of the technology company’s stock after selling 18,764 shares during the period. Cwm LLC’s holdings in International Business Machines were worth $29,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IBM. TFR Capital LLC. purchased a new stake in International Business Machines during the first quarter worth $255,000. Hughes Financial Services LLC purchased a new stake in shares of International Business Machines during the 1st quarter worth about $85,000. Pittenger & Anderson Inc. grew its position in shares of International Business Machines by 2.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 15,910 shares of the technology company’s stock valued at $3,956,000 after acquiring an additional 425 shares during the period. Schechter Investment Advisors LLC increased its stake in shares of International Business Machines by 12.5% in the 1st quarter. Schechter Investment Advisors LLC now owns 7,148 shares of the technology company’s stock valued at $1,777,000 after purchasing an additional 797 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in International Business Machines by 2.0% in the 1st quarter. New York State Common Retirement Fund now owns 1,204,831 shares of the technology company’s stock worth $299,593,000 after purchasing an additional 23,100 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Down 1.4%

Shares of IBM opened at $283.33 on Monday. The stock has a fifty day simple moving average of $273.18 and a two-hundred day simple moving average of $252.30. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $263.33 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 5.95 and a beta of 0.69. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.37%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group raised their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.06.

International Business Machines 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.