Alps Advisors Inc. Sells 7,372 Shares of International Business Machines Corporation (NYSE:IBM)

Alps Advisors Inc. decreased its holdings in International Business Machines Corporation (NYSE:IBM) by 5.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,365 shares of the technology company’s stock after selling 7,372 shares during the period. Alps Advisors Inc.’s holdings in International Business Machines were worth $32,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBM. Brighton Jones LLC grew its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares in the last quarter. Proficio Capital Partners LLC grew its position in International Business Machines by 81.5% during the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company’s stock worth $591,000 after buying an additional 1,206 shares in the last quarter. Davis R M Inc. grew its position in International Business Machines by 34.2% during the fourth quarter. Davis R M Inc. now owns 11,211 shares of the technology company’s stock worth $2,465,000 after buying an additional 2,860 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in International Business Machines by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 15,461 shares of the technology company’s stock worth $3,399,000 after buying an additional 646 shares in the last quarter. Finally, AGF Management Ltd. grew its position in International Business Machines by 1.8% during the fourth quarter. AGF Management Ltd. now owns 17,561 shares of the technology company’s stock worth $3,860,000 after buying an additional 315 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush raised their target price on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Royal Bank Of Canada raised their target price on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.06.

International Business Machines Stock Performance

Shares of IBM opened at $289.83 on Thursday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a 50-day moving average of $271.47 and a 200-day moving average of $251.07. The company has a market cap of $269.37 billion, a PE ratio of 49.88, a P/E/G ratio of 6.10 and a beta of 0.69. International Business Machines Corporation has a one year low of $174.45 and a one year high of $296.16.

International Business Machines (NYSE:IBM) last issued its 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 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%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $1.68 EPS. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. International Business Machines’s dividend payout ratio (DPR) is currently 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.