Principal Financial Group Inc. Sells 4,871 Shares of International Business Machines Corporation (NYSE:IBM)

Principal Financial Group Inc. lowered its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,076,010 shares of the technology company’s stock after selling 4,871 shares during the quarter. Principal Financial Group Inc. owned 0.12% of International Business Machines worth $267,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in IBM. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter worth about $31,000. Rialto Wealth Management LLC purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $35,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $43,000. Park Square Financial Group LLC purchased a new stake in International Business Machines during the 4th quarter valued at $43,000. Finally, Mascagni Wealth Management Inc. bought a new stake in International Business Machines in the fourth quarter worth $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.4%

NYSE IBM opened at $291.66 on Friday. International Business Machines Corporation has a 52 week low of $173.95 and a 52 week high of $296.16. The company has a 50 day moving average price of $267.18 and a 200 day moving average price of $249.22. 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 cap of $271.06 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 6.04 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 earnings per share. As a group, 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 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 represents a $6.72 annualized dividend and a yield of 2.30%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent analyst reports. Citigroup reissued an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Morgan Stanley dropped their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group increased their price target on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Bank of America boosted their price objective on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, nine have given 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 company has an average rating of “Hold” and a consensus target price of $257.50.

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.