Lewis Asset Management LLC Sells 71 Shares of International Business Machines Corporation (NYSE:IBM)

Lewis Asset Management LLC lessened its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.3% in the first quarter, Holdings Channel reports. The fund owned 3,072 shares of the technology company’s stock after selling 71 shares during the quarter. Lewis Asset Management LLC’s holdings in International Business Machines were worth $764,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the first quarter valued at approximately $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines in the first quarter valued at about $45,000. Park Square Financial Group LLC acquired a new stake in International Business Machines in the fourth quarter valued at about $43,000. Park Place Capital Corp lifted its position in shares of International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company’s stock valued at $48,000 after acquiring an additional 58 shares during the period. Finally, Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter valued at $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 1.4%

Shares of IBM opened at $285.81 on Monday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16. The stock’s 50-day moving average is $276.39 and its two-hundred day moving average is $254.50. The stock has a market cap of $265.63 billion, a PE ratio of 49.23, a P/E/G ratio of 6.00 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 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 during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business 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 yield of 2.35%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Analyst Ratings Changes

Several analysts have recently weighed in on IBM shares. Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Bank of America raised 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 reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued 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 has a consensus rating of “Moderate Buy” and an average target price of $266.19.

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.