International Business Machines Corporation (NYSE:IBM) Shares Sold by SNS Financial Group LLC

SNS Financial Group LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,321 shares of the technology company’s stock after selling 91 shares during the period. SNS Financial Group LLC’s holdings in International Business Machines were worth $826,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IBM. Wealth Dimensions Group Ltd. grew its stake in International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after purchasing an additional 40 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after purchasing an additional 42 shares in the last quarter. DMC Group LLC grew its stake in International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock worth $875,000 after purchasing an additional 42 shares in the last quarter. Titleist Asset Management LLC grew its stake in International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after purchasing an additional 43 shares in the last quarter. Finally, Range Financial Group LLC grew its stake in International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock worth $1,828,000 after purchasing an additional 43 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

NYSE:IBM traded up $4.04 during midday trading on Friday, hitting $286.04. 4,465,031 shares of the stock were exchanged, compared to its average volume of 4,230,429. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The company has a market capitalization of $265.84 billion, a price-to-earnings ratio of 49.23, a P/E/G ratio of 5.92 and a beta of 0.69. The business has a 50-day moving average price of $276.39 and a two-hundred day moving average price of $254.02. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09.

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

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.35%. International Business Machines’s payout ratio is 115.66%.

Analyst Ratings Changes

IBM has been the subject of a number of research reports. Royal Bank Of Canada lifted their price target on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Morgan Stanley decreased their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus lifted their target price on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.19.

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.