Wealthspire Advisors LLC Reduces Position in International Business Machines Corporation $IBM

Wealthspire Advisors LLC lessened its stake in shares of International Business Machines Corporation (NYSE:IBM) by 37.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,384 shares of the technology company’s stock after selling 23,670 shares during the period. Wealthspire Advisors LLC’s holdings in International Business Machines were worth $11,666,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IBM. Family CFO Inc acquired a new stake in International Business Machines during the 4th quarter valued at approximately $25,000. Basepoint Wealth LLC acquired a new stake in International Business Machines during the 4th quarter valued at approximately $25,000. SWAN Capital LLC acquired a new stake in International Business Machines during the 3rd quarter valued at approximately $28,000. Joseph Group Capital Management acquired a new stake in International Business Machines during the 4th quarter valued at approximately $28,000. Finally, DecisionPoint Financial LLC lifted its stake in International Business Machines by 1,666.7% during the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM opened at $271.77 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The firm has a fifty day moving average price of $250.02 and a 200 day moving average price of $270.34. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $332.46. The stock has a market cap of $255.43 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.85 and a beta of 0.67.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same period in the previous year, the business posted $1.60 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Corporation will post 12.38 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, May 8th. International Business Machines’s dividend payout ratio (DPR) is currently 59.77%.

Wall Street Analysts Forecast Growth

Several analysts have commented on IBM shares. Oppenheimer decreased their price objective on shares of International Business Machines from $380.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Barclays started coverage on shares of International Business Machines in a research note on Monday, June 1st. They set an “overweight” rating and a $350.00 price objective for the company. Royal Bank Of Canada restated an “outperform” rating on shares of International Business Machines in a research note on Thursday, May 28th. Finally, Citigroup lifted their price objective on shares of International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.17.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.