International Business Machines Co. (NYSE:IBM) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 28.5% during the first quarter, HoldingsChannel reports. The firm owned 1,995 shares of the technology company’s stock after selling 794 shares during the period. GPS Wealth Strategies Group LLC’s holdings in International Business Machines were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares in the last quarter. Geode Capital Management LLC lifted its position in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after buying an additional 427,499 shares in the last quarter. Capital World Investors boosted its stake in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Northern Trust Corp boosted its stake in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in International Business Machines by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock valued at $1,783,281,000 after buying an additional 722,582 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $280.69 on Friday. The business’s fifty day moving average price is $251.46 and its two-hundred day moving average price is $243.34. International Business Machines Co. has a one year low of $167.23 and a one year high of $283.06. The stock has a market cap of $260.87 billion, a PE ratio of 43.79, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. The business 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 company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 earnings per share. On average, analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.39%. International Business Machines’s dividend payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IBM shares. Citigroup reissued an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, Morgan Stanley cut their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $250.31.

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.