Raymond James & Associates Reduces Holdings in International Business Machines Co. (NYSE:IBM)

Raymond James & Associates lowered its position in International Business Machines Co. (NYSE:IBM) by 0.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,362,963 shares of the technology company’s stock after selling 2,376 shares during the period. Raymond James & Associates’ holdings in International Business Machines were worth $260,271,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Naples Money Management LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the 4th quarter valued at about $29,000. Briaud Financial Planning Inc bought a new position in International Business Machines in the 3rd quarter worth about $31,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $31,000. Finally, Stone House Investment Management LLC raised its stake in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.1 %

Shares of NYSE IBM traded down $1.78 during trading hours on Friday, hitting $167.13. 8,983,796 shares of the stock were exchanged, compared to its average volume of 3,906,041. The company has a market cap of $153.21 billion, a PE ratio of 18.93, a PEG ratio of 3.30 and a beta of 0.70. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The company has a quick ratio of 0.93, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a fifty day moving average price of $187.60 and a 200-day moving average price of $170.53.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, sell-side analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Sanford C. Bernstein increased their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. BMO Capital Markets decreased their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday. Morgan Stanley dropped their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Wedbush upped their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $184.08.

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.