International Business Machines Corporation (NYSE:IBM) Shares Sold by Autumn Glory Partners LLC

Autumn Glory Partners LLC lessened its stake in International Business Machines Corporation (NYSE:IBM) by 17.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,998 shares of the technology company’s stock after selling 655 shares during the quarter. Autumn Glory Partners LLC’s holdings in International Business Machines were worth $745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Treasurer of the State of North Carolina increased its position in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at $3,000,000. Magnolia Private Wealth LLC acquired a new stake in shares of International Business Machines in the first quarter valued at $239,000. QRG Capital Management Inc. grew its stake in shares of International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock valued at $33,118,000 after buying an additional 10,467 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. grew its stake in shares of International Business Machines by 0.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company’s stock valued at $35,172,000 after buying an additional 1,058 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America lifted their target price on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Finally, Morgan Stanley dropped 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 note on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $252.19.

International Business Machines Trading Up 0.0%

IBM opened at $283.15 on Thursday. International Business Machines Corporation has a one year low of $170.41 and a one year high of $286.91. The company has a market cap of $263.16 billion, a P/E ratio of 48.74, a PEG ratio of 5.94 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The business’s 50-day simple moving average is $255.73 and its 200-day simple moving average is $244.81.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 earnings per share. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

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.