Selway Asset Management Sells 1,750 Shares of International Business Machines Co. (NYSE:IBM)

Selway Asset Management lowered its holdings in International Business Machines Co. (NYSE:IBM) by 49.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,800 shares of the technology company’s stock after selling 1,750 shares during the period. Selway Asset Management’s holdings in International Business Machines were worth $448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IBM. Capital World Investors boosted its holdings in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Norges Bank bought a new stake in shares of International Business Machines during the 4th quarter worth approximately $1,236,176,000. GAMMA Investing LLC lifted its holdings in shares of International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. Raymond James Financial Inc. bought a new stake in shares of International Business Machines during the 4th quarter worth approximately $592,746,000. Finally, Northern Trust Corp lifted its holdings in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $263.85 on Tuesday. The company has a fifty day moving average price of $246.64 and a 200-day moving average price of $240.64. The company has a market capitalization of $245.22 billion, a P/E ratio of 41.16, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $269.28. 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 released its quarterly earnings results 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. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IBM shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Royal Bank of Canada upped their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $249.06.

International Business Machines Company 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.