International Business Machines Corporation (NYSE:IBM) Shares Sold by Centennial Wealth Advisory LLC

Centennial Wealth Advisory LLC trimmed its position in International Business Machines Corporation (NYSE:IBM) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,901 shares of the technology company’s stock after selling 86 shares during the quarter. International Business Machines makes up 0.9% of Centennial Wealth Advisory LLC’s investment portfolio, making the stock its 19th largest position. Centennial Wealth Advisory LLC’s holdings in International Business Machines were worth $2,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new position in shares of International Business Machines during the 4th quarter worth about $902,000. Brighton Jones LLC boosted its holdings in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in International Business Machines by 25.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 3,743 shares of the technology company’s stock valued at $823,000 after purchasing an additional 765 shares in the last quarter. Empower Advisory Group LLC increased its stake in International Business Machines by 13.2% in the fourth quarter. Empower Advisory Group LLC now owns 8,560 shares of the technology company’s stock valued at $1,882,000 after purchasing an additional 999 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in International Business Machines by 1.4% during the fourth quarter. Venturi Wealth Management LLC now owns 7,809 shares of the technology company’s stock worth $1,717,000 after purchasing an additional 108 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a report on Wednesday, May 7th. Bank of America upped their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group reiterated a “sell” rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target of $252.19.

International Business Machines Trading Up 0.0%

Shares of International Business Machines stock opened at $283.15 on Thursday. The company has a 50-day moving average of $255.73 and a two-hundred day moving average of $244.81. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $286.91. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock has a market cap of $263.16 billion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 5.94 and a beta of 0.66.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared 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 represents a $6.72 annualized dividend and a dividend yield of 2.37%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 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.