BLB&B Advisors LLC Sells 995 Shares of International Business Machines Corporation (NYSE:IBM)

BLB&B Advisors LLC lessened its holdings in International Business Machines Corporation (NYSE:IBM) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,413 shares of the technology company’s stock after selling 995 shares during the quarter. BLB&B Advisors LLC’s holdings in International Business Machines were worth $5,325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Dimensions Group Ltd. increased its position in shares of International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after buying an additional 40 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after acquiring an additional 42 shares during the period. Schechter Investment Advisors LLC raised its holdings in shares of International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after acquiring an additional 43 shares during the period. Titleist Asset Management LLC raised its holdings in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after buying an additional 43 shares during the period. Finally, Range Financial Group LLC raised its holdings in International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock valued at $1,828,000 after buying an additional 43 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM opened at $294.64 on Tuesday. The company has a market cap of $273.84 billion, a P/E ratio of 50.71, a PEG ratio of 6.08 and a beta of 0.66. The stock has a fifty day moving average price of $264.09 and a 200 day moving average price of $248.22. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a 12 month low of $173.38 and a 12 month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the prior year, the business posted $1.68 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.28%. International Business Machines’s dividend payout ratio is currently 115.66%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IBM. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Wedbush boosted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Royal Bank Of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $253.75.

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.