Kingsview Wealth Management LLC Reduces Holdings in International Business Machines Corporation $IBM

Kingsview Wealth Management LLC cut its stake in shares of International Business Machines Corporation (NYSE:IBMFree Report) by 82.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,241 shares of the technology company’s stock after selling 177,235 shares during the quarter. Kingsview Wealth Management LLC’s holdings in International Business Machines were worth $11,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Family CFO Inc purchased a new stake in International Business Machines in the 4th quarter worth approximately $25,000. Joseph Group Capital Management purchased a new stake in International Business Machines in the 4th quarter worth approximately $28,000. SWAN Capital LLC purchased a new stake in International Business Machines in the 3rd quarter worth approximately $28,000. DecisionPoint Financial LLC lifted its holdings in International Business Machines by 1,666.7% in the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock worth $31,000 after buying an additional 100 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new stake in International Business Machines in the 4th quarter worth approximately $31,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Up 1.9%

Shares of NYSE:IBM opened at $255.43 on Thursday. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $324.90. The firm has a market capitalization of $240.08 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.60 and a beta of 0.58. The stock has a 50 day moving average price of $239.06 and a 200-day moving average price of $271.09. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBMGet Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. During the same quarter last year, the company earned $1.60 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be given a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.6%. International Business Machines’s dividend payout ratio is 59.77%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings cut International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Royal Bank Of Canada dropped their price objective on International Business Machines from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Stifel Nicolaus set a $290.00 price objective on International Business Machines in a report on Friday, May 22nd. JPMorgan Chase & Co. dropped their price objective on International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, HSBC raised International Business Machines from a “reduce” rating to a “hold” rating and increased their target price for the stock from $218.00 to $231.00 in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $294.41.

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International Business Machines Company Profile

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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