Midland Wealth Advisors LLC Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Midland Wealth Advisors LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,536 shares of the technology company’s stock after selling 1,229 shares during the quarter. Midland Wealth Advisors LLC’s holdings in International Business Machines were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina raised its position in shares of International Business Machines by 0.8% in 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 buying an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $242,000. Truist Financial Corp raised its holdings in International Business Machines by 6.5% in the 4th 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 last quarter. Mufg Securities Americas Inc. purchased a new position in shares of International Business Machines during the 4th quarter worth $3,000,000. Finally, QRG Capital Management Inc. boosted its holdings in shares of International Business Machines by 7.5% during the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock worth $33,118,000 after purchasing an additional 10,467 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.8%

IBM opened at $268.95 on Monday. The firm’s 50 day moving average is $248.17 and its 200-day moving average is $242.11. International Business Machines Co. has a 52-week low of $166.81 and a 52-week high of $270.17. 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 firm has a market capitalization of $249.96 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Analysts expect 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. Investors of record on Friday, May 9th will be paid a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.50%. International Business Machines’s payout ratio is 115.66%.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Royal Bank of Canada upped their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, Citigroup reaffirmed 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 issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $249.06.

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.