International Business Machines Corporation (NYSE:IBM) Shares Sold by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 10.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 14,975 shares of the technology company’s stock after selling 1,756 shares during the quarter. International Business Machines makes up approximately 1.5% of Beech Hill Advisors Inc.’s portfolio, making the stock its 25th largest holding. Beech Hill Advisors Inc.’s holdings in International Business Machines were worth $3,724,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. FourThought Financial Partners LLC purchased a new stake in International Business Machines during the 4th quarter valued at approximately $610,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in International Business Machines during the 4th quarter valued at approximately $67,000. Lake Street Advisors Group LLC grew its stake in shares of International Business Machines by 7.2% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,704 shares of the technology company’s stock valued at $1,034,000 after purchasing an additional 317 shares during the last quarter. Finally, National Pension Service grew its stake in shares of International Business Machines by 7.4% in the 4th quarter. National Pension Service now owns 2,129,145 shares of the technology company’s stock valued at $468,050,000 after purchasing an additional 145,931 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America boosted their price target on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. 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 report on Thursday, May 15th. One investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $253.75.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $291.38 on Thursday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a one year low of $170.41 and a one year high of $296.16. The business’s fifty day moving average price is $260.83 and its two-hundred day moving average price is $246.71. The stock has a market cap of $270.81 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 6.17 and a beta of 0.66.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.31%. International Business Machines’s payout ratio is 115.66%.

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.