Orion Capital Management LLC Reduces Position in International Business Machines Co. (NYSE:IBM)

Orion Capital Management LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,479 shares of the technology company’s stock after selling 150 shares during the quarter. Orion Capital Management LLC’s holdings in International Business Machines were worth $545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its stake in International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the 4th quarter valued at approximately $242,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines in the fourth quarter worth $373,000. Truist Financial Corp boosted its holdings in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after acquiring an additional 49,591 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines in the 4th quarter worth about $3,000,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.6%

Shares of NYSE IBM opened at $266.76 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12 month low of $163.53 and a 12 month high of $269.28. The company has a market cap of $247.93 billion, a price-to-earnings ratio of 41.62, a P/E/G ratio of 5.81 and a beta of 0.64. The business has a fifty day simple moving average of $244.53 and a 200-day simple moving average of $237.32.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price target on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $249.06.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

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.