Hennion & Walsh Asset Management Inc. Sells 265 Shares of International Business Machines Co. (NYSE:IBM)

Hennion & Walsh Asset Management Inc. cut its position in International Business Machines Co. (NYSE:IBM) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,388 shares of the technology company’s stock after selling 265 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in International Business Machines were worth $6,313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bremer Bank National Association grew its stake in shares of International Business Machines by 11.4% in the first quarter. Bremer Bank National Association now owns 26,727 shares of the technology company’s stock valued at $6,646,000 after buying an additional 2,730 shares in the last quarter. CGN Advisors LLC bought a new position in International Business Machines during the first quarter worth $228,000. Smith Anglin Financial LLC boosted its position in International Business Machines by 0.8% during the first quarter. Smith Anglin Financial LLC now owns 9,639 shares of the technology company’s stock worth $2,397,000 after purchasing an additional 76 shares during the period. Chickasaw Capital Management LLC bought a new position in International Business Machines during the first quarter worth $211,000. Finally, Merit Financial Group LLC boosted its position in International Business Machines by 35.3% during the first quarter. Merit Financial Group LLC now owns 28,176 shares of the technology company’s stock worth $7,006,000 after purchasing an additional 7,351 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Finally, UBS Group reissued a “sell” rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $249.06.

International Business Machines Stock Up 0.6%

Shares of NYSE IBM opened at $265.38 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market cap of $246.64 billion, a price-to-earnings ratio of 41.40, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 12 month low of $163.88 and a 12 month high of $269.28. The stock has a 50-day moving average price of $247.02 and a two-hundred day moving average price of $240.81.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm 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 38.99% and a net margin of 9.60%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 earnings per share. As a group, analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid 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 annualized dividend and a yield of 2.53%. International Business Machines’s payout ratio is presently 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.