Raleigh Capital Management Inc. Sells 7,097 Shares of International Business Machines Corporation (NYSE:IBM)

Raleigh Capital Management Inc. decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 76.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,199 shares of the technology company’s stock after selling 7,097 shares during the quarter. Raleigh Capital Management Inc.’s holdings in International Business Machines were worth $547,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of International Business Machines by 81.5% during the 4th quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company’s stock valued at $591,000 after buying an additional 1,206 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of International Business Machines by 33.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,578 shares of the technology company’s stock valued at $4,992,000 after buying an additional 5,194 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $35,000. Finally, Strategic Equity Management purchased a new stake in International Business Machines in the fourth quarter worth approximately $230,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IBM shares. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. The Goldman Sachs Group boosted their target price on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Morgan Stanley reduced their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One equities research 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $257.50.

International Business Machines Trading Up 1.4%

NYSE:IBM opened at $291.66 on Monday. The company has a 50-day moving average price of $268.36 and a 200-day moving average price of $250.04. The stock has a market cap of $271.06 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 6.13 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 12 month low of $174.45 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $1.68 earnings per share. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.30%. International Business Machines’s dividend payout ratio is 115.66%.

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.