Advisor Resource Council Sells 4,303 Shares of International Business Machines Co. (NYSE:IBM)

Advisor Resource Council reduced its position in International Business Machines Co. (NYSE:IBM) by 53.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,739 shares of the technology company’s stock after selling 4,303 shares during the period. Advisor Resource Council’s holdings in International Business Machines were worth $714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Kovack Advisors Inc. increased its position in shares of International Business Machines by 31.7% during the first quarter. Kovack Advisors Inc. now owns 8,652 shares of the technology company’s stock valued at $1,652,000 after buying an additional 2,084 shares during the period. Dupree Financial Group LLC bought a new stake in shares of International Business Machines during the first quarter valued at about $228,000. DMC Group LLC increased its position in shares of International Business Machines by 10.8% during the first quarter. DMC Group LLC now owns 3,230 shares of the technology company’s stock valued at $617,000 after buying an additional 316 shares during the period. Abundance Wealth Counselors increased its position in shares of International Business Machines by 3.8% during the first quarter. Abundance Wealth Counselors now owns 17,967 shares of the technology company’s stock valued at $3,431,000 after buying an additional 660 shares during the period. Finally, Norden Group LLC increased its position in shares of International Business Machines by 1,767.1% during the first quarter. Norden Group LLC now owns 94,400 shares of the technology company’s stock valued at $18,027,000 after buying an additional 89,344 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Wedbush lifted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Jefferies Financial Group dropped their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Finally, BMO Capital Markets decreased their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Trading Down 0.9 %

Shares of NYSE IBM traded down $1.57 during mid-day trading on Thursday, hitting $175.73. The stock had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. The firm has a market cap of $161.43 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 4.37 and a beta of 0.71. The business has a 50 day moving average price of $169.72 and a two-hundred day moving average price of $176.76. International Business Machines Co. has a 1 year low of $131.55 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.65%.

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.