Boothe Investment Group Inc. Reduces Position in International Business Machines Co. (NYSE:IBM)

Boothe Investment Group Inc. decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 33.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,736 shares of the technology company’s stock after selling 3,360 shares during the quarter. International Business Machines comprises about 0.8% of Boothe Investment Group Inc.’s portfolio, making the stock its 26th biggest holding. Boothe Investment Group Inc.’s holdings in International Business Machines were worth $1,675,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at about $31,000. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at about $35,000. Tacita Capital Inc lifted its position in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after buying an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the fourth quarter valued at about $43,000. Finally, Park Square Financial Group LLC acquired a new position in International Business Machines in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group reaffirmed a “sell” rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank of Canada increased their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, Morgan Stanley reduced their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $250.31.

International Business Machines Stock Down 1.5%

IBM stock opened at $276.84 on Monday. The firm has a market capitalization of $257.29 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a fifty-two week low of $167.50 and a fifty-two week high of $283.06. 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 company’s 50 day moving average price is $252.60 and its 200 day moving average price is $243.90.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for 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 revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 earnings per share. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.43%. International Business Machines’s dividend payout ratio is currently 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.