International Business Machines Co. (NYSE:IBM) Shares Sold by KFG Wealth Management LLC

KFG Wealth Management LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 7.6% in the first quarter, HoldingsChannel.com reports. The fund owned 1,206 shares of the technology company’s stock after selling 99 shares during the quarter. KFG Wealth Management LLC’s holdings in International Business Machines were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. Geode Capital Management LLC lifted its stake in International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after buying an additional 427,499 shares during the last quarter. Capital World Investors boosted its holdings in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Northern Trust Corp grew its position in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of International Business Machines by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after acquiring an additional 722,582 shares during the period. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBM. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Wedbush reiterated an “outperform” rating and set a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. UBS Group reissued a “sell” rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Citigroup reissued an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $249.06.

International Business Machines Price Performance

NYSE:IBM opened at $268.95 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business’s 50-day moving average price is $248.17 and its 200 day moving average price is $241.98. International Business Machines Co. has a 52-week low of $166.81 and a 52-week high of $270.17. The firm has a market cap of $249.96 billion, a P/E ratio of 41.96, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the firm posted $1.68 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share 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. Shareholders of record on Friday, May 9th will be given 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 yield of 2.50%. International Business Machines’s payout ratio is 115.66%.

About International Business Machines

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.