Townsquare Capital LLC Sells 7,068 Shares of International Business Machines Corporation $IBM

Townsquare Capital LLC cut its holdings in International Business Machines Corporation (NYSE:IBM) by 49.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,087 shares of the technology company’s stock after selling 7,068 shares during the quarter. Townsquare Capital LLC’s holdings in International Business Machines were worth $2,099,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Family CFO Inc purchased a new stake in International Business Machines during the 4th quarter valued at $25,000. Basepoint Wealth LLC purchased a new stake in International Business Machines during the 4th quarter valued at $25,000. Joseph Group Capital Management purchased a new stake in International Business Machines during the 4th quarter valued at $28,000. SWAN Capital LLC purchased a new stake in International Business Machines during the 3rd quarter valued at $28,000. Finally, DecisionPoint Financial LLC raised its stake in International Business Machines by 1,666.7% during the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBM. Wedbush set a $350.00 target price on shares of International Business Machines in a research note on Tuesday, June 2nd. Jefferies Financial Group decreased their target price on shares of International Business Machines from $370.00 to $320.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Morgan Stanley boosted their target price on shares of International Business Machines from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. UBS Group upgraded shares of International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 target price for the company in a research note on Wednesday, February 25th. Finally, Stifel Nicolaus set a $290.00 target price on shares of International Business Machines in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.17.

International Business Machines Trading Down 1.7%

Shares of International Business Machines stock opened at $272.78 on Thursday. The company has a market capitalization of $256.38 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.87 and a beta of 0.67. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The company has a fifty day moving average of $248.79 and a 200 day moving average of $270.49. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $332.46.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.10. The company had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. International Business Machines’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 EPS. On average, sell-side analysts anticipate that International Business Machines Corporation will post 12.4 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

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

Key Headlines Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Jim Cramer publicly favored IBM over Xanadu Quantum, saying investors should “buy IBM” if they want exposure to the quantum theme, which can reinforce confidence in IBM as a more credible and profitable long-term AI/quantum name. Jim Cramer Recommends IBM Over Xanadu Quantum
• Positive Sentiment: IBM announced an expanded global collaboration with JA Worldwide to deliver AI and digital-skills education to up to one million high-school students, highlighting IBM’s efforts to build ecosystem adoption and strengthen its brand in AI. JA Worldwide and IBM Expand Global Collaboration with Goal of Delivering AI and Digital Skills to Up to One Million High-School Students
• Positive Sentiment: Several articles framed IBM as a strong long-term beneficiary of the quantum-computing boom, including coverage that described IBM as a “safer play” alongside Alphabet in the sector and another piece calling IBM a long-term buy tied to its recurring-revenue software and infrastructure engine. Quantum Computing Looks Like Nvidia in 2019. This Could Be the Generational Buy of the Decade.
• Neutral Sentiment: IBM CEO Arvind Krishna’s recent comments on quantum advantage, AI usage, and the company’s profit strategy keep IBM in the AI/quantum conversation, but the remarks were more strategic than immediately financial. IBM CEO Krishna on Quantum Advantage, Profit Strategy
• Neutral Sentiment: One analyst-style article argued that Celestica may be a better AI infrastructure buy than IBM due to faster growth and a cheaper valuation, which is a reminder that IBM still faces competition for investor capital in AI hardware/infrastructure. Celestica vs. IBM: Which AI Infrastructure Stock is the Better Buy?
• Negative Sentiment: Recent 247WallSt commentary said IBM has already rallied enough that some investors may prefer to wait for a pullback, and it also noted the stock is not cheap after IBM’s large quantum investment announcement. IBM Just Placed a $10 Billion Bet to Become the Nvidia of Quantum Computing

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.