International Business Machines Corporation (NYSE:IBM) Shares Sold by Dakota Wealth Management

Dakota Wealth Management decreased its position in International Business Machines Corporation (NYSE:IBM) by 19.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,189 shares of the technology company’s stock after selling 8,882 shares during the quarter. Dakota Wealth Management’s holdings in International Business Machines were worth $9,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Brighton Jones LLC grew its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the period. Proficio Capital Partners LLC grew its holdings in International Business Machines by 81.5% in 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 during the period. Choate Investment Advisors grew its holdings in International Business Machines by 8.3% in the 4th quarter. Choate Investment Advisors now owns 11,153 shares of the technology company’s stock valued at $2,452,000 after buying an additional 854 shares during the period. one8zero8 LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth about $1,672,000. Finally, Ascent Capital Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth about $230,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $283.33 on Monday. The business’s 50 day moving average is $273.18 and its two-hundred day moving average is $252.30. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The firm has a market cap of $263.33 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 5.95 and a beta of 0.69. 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 earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period in the prior year, the company posted $1.68 EPS. International Business Machines’s quarterly revenue was up .5% on a year-over-year basis. Analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IBM shares. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley decreased their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, UBS Group restated a “sell” rating and issued a $195.00 price target (up previously from $170.00) on shares of International Business Machines in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.06.

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.