International Business Machines Corporation (NYSE:IBM) Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC lowered its stake in International Business Machines Corporation (NYSE:IBM) by 45.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 157,468 shares of the technology company’s stock after selling 133,486 shares during the period. International Business Machines accounts for approximately 2.9% of Applied Finance Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Applied Finance Capital Management LLC’s holdings in International Business Machines were worth $39,156,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. MinichMacGregor Wealth Management LLC acquired a new position in shares of International Business Machines in the 1st quarter worth approximately $396,000. Treasurer of the State of North Carolina lifted its stake in International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Left Brain Wealth Management LLC boosted its holdings in International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock worth $4,392,000 after purchasing an additional 16,592 shares during the period. Alpha Cubed Investments LLC increased its stake in International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Wedbush Securities Inc. raised its holdings in shares of International Business Machines by 5.6% during the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock worth $15,434,000 after purchasing an additional 3,276 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.3%

International Business Machines stock opened at $259.70 on Friday. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The stock has a market capitalization of $241.36 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 5.52 and a beta of 0.69. The firm has a 50 day simple moving average of $277.69 and a 200-day simple moving average of $255.81. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same period last year, the company posted $2.43 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.59%. International Business Machines’s payout ratio is 109.09%.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. UBS Group increased their price target on International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research report on Thursday. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.75.

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.