Clifford Swan Investment Counsel LLC Sells 1,924 Shares of International Business Machines Co. (NYSE:IBM)

Clifford Swan Investment Counsel LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,099 shares of the technology company’s stock after selling 1,924 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in International Business Machines were worth $7,539,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Compass Wealth Management LLC raised its holdings in shares of International Business Machines by 73.6% during the third quarter. Compass Wealth Management LLC now owns 830 shares of the technology company’s stock valued at $116,000 after purchasing an additional 352 shares during the last quarter. Concord Wealth Partners grew its holdings in shares of International Business Machines by 46.8% in the third quarter. Concord Wealth Partners now owns 2,112 shares of the technology company’s stock worth $296,000 after acquiring an additional 673 shares during the period. Everhart Financial Group Inc. lifted its holdings in International Business Machines by 11.2% in the third quarter. Everhart Financial Group Inc. now owns 3,887 shares of the technology company’s stock valued at $545,000 after acquiring an additional 390 shares during the period. JB Capital LLC boosted its position in International Business Machines by 6.0% in the third quarter. JB Capital LLC now owns 3,062 shares of the technology company’s stock worth $430,000 after purchasing an additional 172 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of International Business Machines by 29.3% during the 3rd quarter. Lindbrook Capital LLC now owns 3,251 shares of the technology company’s stock valued at $456,000 after purchasing an additional 736 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $1.02 during midday trading on Friday, reaching $165.71. 3,400,405 shares of the company were exchanged, compared to its average volume of 4,768,629. The stock has a market cap of $152.22 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The business’s fifty day moving average is $185.75 and its two-hundred day moving average is $171.44. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. As a group, analysts predict that International Business Machines Co. will post 9.92 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 4.03%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio is 75.20%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IBM shares. Bank of America raised their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. BNP Paribas started coverage on International Business Machines in a research note on Thursday. They issued an “underperform” rating and a $145.00 price objective for the company. Morgan Stanley lowered their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Wedbush raised their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $181.29.

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.