RFG Advisory LLC Reduces Position in International Business Machines Co. (NYSE:IBM)

RFG Advisory LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 41.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,818 shares of the technology company’s stock after selling 12,132 shares during the period. RFG Advisory LLC’s holdings in International Business Machines were worth $4,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Financial Services Inc acquired a new position in International Business Machines in the 4th quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at $31,000. Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth $35,000. Tacita Capital Inc raised its holdings in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after purchasing an additional 122 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new position in International Business Machines during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.6%

Shares of IBM stock opened at $265.38 on Wednesday. International Business Machines Co. has a fifty-two week low of $163.88 and a fifty-two 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. The stock’s fifty day moving average is $247.02 and its two-hundred day moving average is $240.81. The firm has a market capitalization of $246.64 billion, a P/E ratio of 41.40, a PEG ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm 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 revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm posted $1.68 earnings per share. Research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.53%. International Business Machines’s payout ratio is currently 115.66%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBM shares. Royal Bank of Canada lifted their price objective on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Morgan Stanley cut their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Oppenheimer assumed coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $249.06.

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.