Putney Financial Group LLC Has $1.37 Million Holdings in International Business Machines Corporation (NYSE:IBM)

Putney Financial Group LLC cut its position in International Business Machines Corporation (NYSE:IBM) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,496 shares of the technology company’s stock after selling 290 shares during the quarter. International Business Machines makes up about 1.1% of Putney Financial Group LLC’s holdings, making the stock its 14th biggest position. Putney Financial Group LLC’s holdings in International Business Machines were worth $1,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Capital World Investors grew its stake in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Norges Bank bought a new stake in International Business Machines in the 4th quarter valued at $1,236,176,000. GAMMA Investing LLC boosted its holdings in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. Raymond James Financial Inc. bought a new stake in International Business Machines in the 4th quarter valued at $592,746,000. Finally, Northern Trust Corp boosted its holdings 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 purchasing an additional 1,704,209 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.9%

Shares of IBM stock opened at $280.67 on Friday. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $286.91. The company has a market capitalization of $260.85 billion, a P/E ratio of 48.31, a P/E/G ratio of 5.95 and a beta of 0.66. The firm has a 50-day moving average price of $257.71 and a 200 day moving average price of $245.55. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

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 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 firm 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 posted $1.68 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. Research analysts forecast that International Business Machines Corporation 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. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.39%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Analyst Ratings Changes

A number of analysts have weighed in on IBM shares. UBS Group reissued a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush increased their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Royal Bank Of Canada raised their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Finally, Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.