KG&L Capital Management LLC Sells 102 Shares of International Business Machines Corporation (NYSE:IBM)

KG&L Capital Management LLC decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,726 shares of the technology company’s stock after selling 102 shares during the period. KG&L Capital Management LLC’s holdings in International Business Machines were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter valued at $35,000. Tacita Capital Inc grew its holdings in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after purchasing an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the fourth quarter worth $43,000. Finally, Park Square Financial Group LLC bought a new stake in International Business Machines during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $291.38 on Thursday. International Business Machines Corporation has a twelve month low of $170.41 and a twelve month high of $296.16. The stock’s 50 day moving average is $260.83 and its 200-day moving average is $246.71. 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 firm has a market capitalization of $270.81 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 6.17 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate 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 was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.68 earnings per share. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.31%. International Business Machines’s payout ratio is currently 115.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IBM shares. UBS Group restated a “sell” rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Bank of America upped their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.