Balefire LLC Sells 493 Shares of International Business Machines Corporation (NYSE:IBM)

Balefire LLC reduced its stake in International Business Machines Corporation (NYSE:IBM) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,439 shares of the technology company’s stock after selling 493 shares during the period. Balefire LLC’s holdings in International Business Machines were worth $855,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $35,000. Tacita Capital Inc raised its holdings in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after acquiring an additional 122 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $43,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Royal Bank Of Canada increased their price target 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. Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Finally, Bank of America upped their price objective on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $253.75.

International Business Machines Stock Performance

Shares of IBM stock opened at $291.38 on Thursday. International Business Machines Corporation has a 52-week low of $170.41 and a 52-week high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market cap of $270.81 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 6.17 and a beta of 0.66. The business has a 50-day simple moving average of $260.83 and a 200-day simple moving average of $246.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 37.43% and a net margin of 8.71%. International Business Machines’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. On average, equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.31%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is currently 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.