Morgan Dempsey Capital Management LLC Sells 2,387 Shares of International Business Machines Corporation $IBM

Morgan Dempsey Capital Management LLC lessened its stake in shares of International Business Machines Corporation (NYSE:IBM) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,710 shares of the technology company’s stock after selling 2,387 shares during the quarter. International Business Machines accounts for 3.1% of Morgan Dempsey Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. Morgan Dempsey Capital Management LLC’s holdings in International Business Machines were worth $6,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of International Business Machines during the fourth quarter worth about $2,446,429,000. Capital World Investors increased its position in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after acquiring an additional 4,976,756 shares during the last quarter. Vanguard Group Inc. increased its position in shares of International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after acquiring an additional 1,439,824 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of International Business Machines by 26.3% during the fourth quarter. Victory Capital Management Inc. now owns 4,582,818 shares of the technology company’s stock worth $1,357,478,000 after acquiring an additional 954,879 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of International Business Machines by 39.6% during the third quarter. First Trust Advisors LP now owns 3,052,880 shares of the technology company’s stock worth $861,401,000 after acquiring an additional 865,253 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IBM. HSBC raised International Business Machines from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $218.00 to $231.00 in a research report on Tuesday, April 28th. Wedbush set a $350.00 target price on International Business Machines in a research report on Tuesday, June 2nd. UBS Group raised International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 target price on the stock in a research report on Wednesday, February 25th. Jefferies Financial Group dropped their target price on International Business Machines from $370.00 to $320.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Stifel Nicolaus set a $290.00 target price on International Business Machines in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.17.

International Business Machines Stock Down 0.2%

NYSE:IBM opened at $271.77 on Monday. The firm has a market capitalization of $255.43 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.66. The stock has a 50 day moving average of $250.02 and a 200-day moving average of $270.10. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $332.46. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. The company had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 earnings per share. Analysts predict that International Business Machines Corporation will post 12.38 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s dividend payout ratio is currently 59.77%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.