International Business Machines Corporation (NYSE:IBM) Shares Sold by World Equity Group Inc.

World Equity Group Inc. cut its stake in shares of International Business Machines Corporation (NYSE:IBM) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,798 shares of the technology company’s stock after selling 743 shares during the quarter. World Equity Group Inc.’s holdings in International Business Machines were worth $1,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $31,000. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $35,000. Tacita Capital Inc grew its stake in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after purchasing an additional 122 shares during the period. Park Square Financial Group LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $43,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM opened at $280.67 on Friday. The company’s 50 day simple moving average is $257.71 and its 200 day simple moving average is $245.55. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $286.91. The stock has a market capitalization of $260.85 billion, a PE ratio of 48.31, a P/E/G ratio of 5.95 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its earnings results 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. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same period last year, the company earned $1.68 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. 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. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. UBS Group reiterated a “sell” rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada boosted their price objective 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. Finally, Bank of America boosted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $253.75.

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.