International Business Machines Corporation (NYSE:IBM) Stock Holdings Trimmed by Westhampton Capital LLC

Westhampton Capital LLC reduced its stake in International Business Machines Corporation (NYSE:IBM) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,976 shares of the technology company’s stock after selling 220 shares during the period. International Business Machines accounts for about 1.4% of Westhampton Capital LLC’s investment portfolio, making the stock its 20th biggest holding. Westhampton Capital LLC’s holdings in International Business Machines were worth $2,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. JBR Co Financial Management Inc grew its stake in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after buying an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. grew its stake in International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after purchasing an additional 42 shares during the last quarter. Schechter Investment Advisors LLC grew its stake in shares of International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares during the last quarter. Finally, Titleist Asset Management LLC grew its stake in shares of International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after purchasing an additional 43 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.9%

Shares of NYSE IBM opened at $280.67 on Friday. The company’s fifty day moving average is $257.71 and its 200-day moving average is $245.64. The stock has a market cap of $260.85 billion, a price-to-earnings ratio of 48.31, a P/E/G ratio of 5.90 and a beta of 0.66. International Business Machines Corporation has a twelve month low of $170.41 and a twelve month high of $286.91. 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 for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Equities research analysts predict 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. Stockholders 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 dividend 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 currently 115.66%.

Analyst Upgrades and Downgrades

IBM has been the topic of several research analyst reports. UBS Group reissued a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Bank of America increased their price target 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. Finally, 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 research note on Friday. 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 given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.