Franklin Street Advisors Inc. NC Sells 2,834 Shares of International Business Machines Co. (NYSE:IBM)

Franklin Street Advisors Inc. NC decreased its position in International Business Machines Co. (NYSE:IBM) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,973 shares of the technology company’s stock after selling 2,834 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in International Business Machines were worth $14,167,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital World Investors increased its holdings in shares of 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 valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank bought a new position in shares of International Business Machines during the fourth quarter valued at $1,236,176,000. GAMMA Investing LLC increased its holdings in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of International Business Machines during the fourth quarter valued at $592,746,000. Finally, Northern Trust Corp increased its holdings in shares of 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 valued at $2,384,275,000 after acquiring an additional 1,704,209 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $276.17 on Wednesday. The firm has a 50 day moving average of $249.27 and a 200 day moving average of $242.69. 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 firm has a market capitalization of $256.67 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 12-month low of $166.81 and a 12-month high of $277.47.

International Business Machines (NYSE:IBM) last announced its 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. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 earnings per share. On average, research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current 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 given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.43%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IBM shares. Citigroup restated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. UBS Group reaffirmed a “sell” rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.