Buffington Mohr McNeal Sells 1,420 Shares of International Business Machines Corporation (NYSE:IBM)

Buffington Mohr McNeal lessened its stake in shares of International Business Machines Corporation (NYSE:IBM) by 57.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,063 shares of the technology company’s stock after selling 1,420 shares during the quarter. Buffington Mohr McNeal’s holdings in International Business Machines were worth $264,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IBM. Vanguard Group Inc. raised its holdings in International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after acquiring an additional 427,499 shares during the last quarter. Capital World Investors raised its position in International Business Machines by 413.5% during the 4th 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 during the last quarter. Northern Trust Corp increased its stake in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after acquiring an additional 722,582 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of IBM stock opened at $287.79 on Thursday. International Business Machines Corporation has a fifty-two week low of $173.95 and a fifty-two week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The business’s 50 day moving average price is $265.93 and its 200-day moving average price is $248.79. The firm has a market cap of $267.47 billion, a P/E ratio of 49.53, a P/E/G ratio of 6.11 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued its quarterly 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 company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the business earned $1.68 EPS. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.34%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBM. The Goldman Sachs Group lifted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. 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. 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. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, UBS Group restated a “sell” rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $257.50.

International Business Machines Company Profile

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.