Good Life Advisors LLC Sells 234 Shares of International Business Machines Co. (NYSE:IBM)

Good Life Advisors LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,541 shares of the technology company’s stock after selling 234 shares during the quarter. Good Life Advisors LLC’s holdings in International Business Machines were worth $2,372,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Trust Co. of Toledo NA OH lifted its holdings in International Business Machines by 7.7% during the first quarter. Trust Co. of Toledo NA OH now owns 17,853 shares of the technology company’s stock worth $4,439,000 after acquiring an additional 1,275 shares during the period. Morton Capital Management LLC CA lifted its holdings in International Business Machines by 6.3% during the first quarter. Morton Capital Management LLC CA now owns 2,059 shares of the technology company’s stock worth $512,000 after acquiring an additional 122 shares during the period. Optas LLC lifted its holdings in International Business Machines by 3.9% during the first quarter. Optas LLC now owns 2,696 shares of the technology company’s stock worth $670,000 after acquiring an additional 100 shares during the period. D Orazio & Associates Inc. lifted its holdings in International Business Machines by 2.6% during the first quarter. D Orazio & Associates Inc. now owns 2,934 shares of the technology company’s stock worth $730,000 after acquiring an additional 75 shares during the period. Finally, Brighton Jones LLC lifted its holdings in International Business Machines by 19.8% during the first quarter. Brighton Jones LLC now owns 25,177 shares of the technology company’s stock worth $6,261,000 after acquiring an additional 4,166 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IBM shares. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $250.31.

International Business Machines Stock Down 1.5%

Shares of NYSE IBM opened at $276.84 on Monday. International Business Machines Co. has a 12 month low of $167.50 and a 12 month high of $283.06. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $257.29 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. The business has a 50-day moving average of $252.60 and a 200-day moving average of $243.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. International Business Machines’s revenue was up .5% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.43%. International Business Machines’s payout ratio is presently 115.66%.

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.