Blossom Wealth Management Sells 315 Shares of International Business Machines Corporation (NYSE:IBM)

Blossom Wealth Management decreased its stake in International Business Machines Corporation (NYSE:IBM) by 7.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,911 shares of the technology company’s stock after selling 315 shares during the period. International Business Machines makes up 2.0% of Blossom Wealth Management’s portfolio, making the stock its 14th largest position. Blossom Wealth Management’s holdings in International Business Machines were worth $973,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital World Investors increased its stake in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new position in shares of International Business Machines in the fourth quarter worth about $1,236,176,000. GAMMA Investing LLC increased its stake in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of International Business Machines in the fourth quarter worth about $592,746,000. Finally, Northern Trust Corp increased its stake in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Wedbush boosted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, Bank of America boosted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $253.75.

International Business Machines Price Performance

IBM stock opened at $280.67 on Monday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a one year low of $170.41 and a one year high of $286.91. The stock has a market cap of $260.85 billion, a PE ratio of 48.31, a P/E/G ratio of 5.90 and a beta of 0.66. The firm has a 50 day simple moving average of $257.71 and a two-hundred day simple moving average of $245.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.39%. International Business Machines’s dividend payout ratio is 115.66%.

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.