Raymond James & Associates Sells 2,376 Shares of International Business Machines Co. (NYSE:IBM)

Raymond James & Associates lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,362,963 shares of the technology company’s stock after selling 2,376 shares during the period. Raymond James & Associates owned about 0.15% of International Business Machines worth $260,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Alpha LLC lifted its holdings in shares of International Business Machines by 84.1% in the 3rd quarter. Advisory Alpha LLC now owns 7,356 shares of the technology company’s stock worth $1,032,000 after acquiring an additional 3,361 shares during the last quarter. Secure Asset Management LLC purchased a new stake in International Business Machines during the third quarter valued at about $214,000. Asset Management One Co. Ltd. boosted its position in International Business Machines by 2.1% during the third quarter. Asset Management One Co. Ltd. now owns 529,406 shares of the technology company’s stock valued at $74,276,000 after buying an additional 11,016 shares during the period. Benin Management CORP grew its stake in shares of International Business Machines by 1.8% during the third quarter. Benin Management CORP now owns 5,593 shares of the technology company’s stock valued at $785,000 after buying an additional 100 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in shares of International Business Machines by 86.6% in the third quarter. Aaron Wealth Advisors LLC now owns 307,827 shares of the technology company’s stock worth $43,188,000 after buying an additional 142,886 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.1 %

Shares of NYSE IBM traded down $1.78 during mid-day trading on Friday, hitting $167.13. 8,983,796 shares of the stock traded hands, compared to its average volume of 3,906,041. The company has a market cap of $153.21 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 3.30 and a beta of 0.70. The stock has a fifty day moving average price of $187.60 and a 200-day moving average price of $170.53. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.93 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The firm 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 company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 EPS. Research analysts anticipate that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is 75.20%.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Sanford C. Bernstein raised their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Jefferies Financial Group decreased their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Wedbush increased their price target 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. Bank of America raised their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $184.08.

International Business Machines 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.