International Business Machines Co. (NYSE:IBM) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 594,722 shares of the technology company’s stock after selling 31,379 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of International Business Machines worth $147,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in 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 worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new stake in shares of International Business Machines in the 4th quarter valued at $1,236,176,000. GAMMA Investing LLC lifted its stake in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new position in International Business Machines during the 4th quarter valued at about $592,746,000. Finally, Northern Trust Corp grew its position in International Business Machines by 18.6% in the 4th 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. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.5%

NYSE:IBM opened at $276.84 on Monday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 1 year low of $167.50 and a 1 year high of $283.06. The stock has a market cap of $257.29 billion, a P/E ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. The stock has a 50-day simple moving average of $252.60 and a 200-day simple moving average of $243.90.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company posted $1.68 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. 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 (DPR) is currently 115.66%.

Analyst Ratings Changes

Several brokerages have recently issued reports on IBM. 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. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Royal Bank of Canada upped their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Finally, BMO Capital Markets reiterated a “market perform” rating 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.