Simplicity Wealth LLC Has $507,000 Holdings in International Business Machines Co. (NYSE:IBM)

Simplicity Wealth LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 79.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,037 shares of the technology company’s stock after selling 7,978 shares during the quarter. Simplicity Wealth LLC’s holdings in International Business Machines were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IBM. Tallon Kerry Patrick acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $902,000. Brighton Jones LLC raised its stake in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares in the last quarter. Sapient Capital LLC raised its stake in shares of International Business Machines by 3.0% in the 4th quarter. Sapient Capital LLC now owns 2,832 shares of the technology company’s stock valued at $623,000 after acquiring an additional 82 shares in the last quarter. Focus Financial Network Inc. raised its stake in shares of International Business Machines by 4.0% in the 4th quarter. Focus Financial Network Inc. now owns 6,822 shares of the technology company’s stock valued at $1,500,000 after acquiring an additional 265 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of International Business Machines in the 4th quarter valued at approximately $706,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group reaffirmed a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $250.31.

International Business Machines Trading Up 1.9%

IBM stock opened at $281.61 on Thursday. The company has a market cap of $261.73 billion, a P/E ratio of 43.93, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a twelve month low of $167.23 and a twelve month high of $281.75. 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 has a fifty day moving average of $250.36 and a 200-day moving average of $242.96.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is currently 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.