Latitude Advisors LLC Sells 366 Shares of International Business Machines Corporation (NYSE:IBM)

Latitude Advisors LLC decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 22.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,255 shares of the technology company’s stock after selling 366 shares during the quarter. Latitude Advisors LLC’s holdings in International Business Machines were worth $312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines during the 4th quarter valued at about $35,000. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines in the 4th quarter valued at about $43,000. Park Square Financial Group LLC bought a new position in International Business Machines in the 4th quarter worth about $43,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $287.79 on Thursday. The business has a fifty day moving average of $265.93 and a 200 day moving average of $248.79. International Business Machines Corporation has a 1 year low of $173.95 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a market capitalization of $267.47 billion, a price-to-earnings ratio of 49.53, a price-to-earnings-growth ratio of 6.11 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced 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%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $1.68 earnings per share. As a group, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. International Business Machines’s dividend payout ratio is 115.66%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank Of Canada raised their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. The Goldman Sachs Group lifted their price objective on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America increased their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $257.50.

International Business Machines 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.