CRA Financial Services LLC Trims Stake in International Business Machines Co. (NYSE:IBM)

CRA Financial Services LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,626 shares of the technology company’s stock after selling 373 shares during the quarter. CRA Financial Services LLC’s holdings in International Business Machines were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina raised its position in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after purchasing an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines in the 4th quarter worth about $242,000. Truist Financial Corp increased its position in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares during the period. Mufg Securities Americas Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $3,000,000. Finally, Magnolia Private Wealth LLC purchased a new position in shares of International Business Machines during the first quarter worth approximately $239,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM opened at $276.84 on Friday. The company has a market cap of $257.29 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a twelve month low of $167.23 and a twelve month high of $283.06. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a 50 day moving average of $252.60 and a two-hundred day moving average of $243.67.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share 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 company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period last year, the firm earned $1.68 earnings per share. International Business Machines’s revenue was up .5% compared to the same quarter last year. As a group, analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were 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 dividend yield of 2.43%. International Business Machines’s payout ratio is presently 115.66%.

Analyst Ratings Changes

A number of brokerages have recently commented on IBM. Bank of America raised their target price on shares of International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $250.31.

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.