International Business Machines Co. (NYSE:IBM) Shares Sold by Stolper Co

Stolper Co lowered its holdings in International Business Machines Co. (NYSE:IBM) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,878 shares of the technology company’s stock after selling 80 shares during the period. International Business Machines accounts for 1.4% of Stolper Co’s investment portfolio, making the stock its 28th biggest position. Stolper Co’s holdings in International Business Machines were worth $4,197,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Asset Allocation & Management Company LLC acquired a new position in International Business Machines during the first quarter worth approximately $225,000. Weinberger Asset Management Inc raised its position in shares of International Business Machines by 31.2% in the 1st quarter. Weinberger Asset Management Inc now owns 1,232 shares of the technology company’s stock worth $306,000 after buying an additional 293 shares during the period. Investors Research Corp acquired a new position in International Business Machines in the first quarter valued at $202,000. Somerset Trust Co purchased a new stake in International Business Machines during the first quarter valued at about $213,000. Finally, Legacy Financial Strategies LLC increased its stake in International Business Machines by 8.1% during the first quarter. Legacy Financial Strategies LLC now owns 999 shares of the technology company’s stock worth $249,000 after acquiring an additional 75 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Royal Bank of Canada lifted their target price on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Morgan Stanley decreased their price target on shares of 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. Finally, Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $249.06.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Up 0.1%

NYSE:IBM opened at $258.88 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market capitalization of $240.60 billion, a price-to-earnings ratio of 40.39, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a one year low of $163.53 and a one year high of $269.28. The stock has a 50-day simple moving average of $246.37 and a 200 day simple moving average of $239.81.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. Sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm 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 $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.60%. International Business Machines’s payout ratio is 115.66%.

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.