Silver Lake Advisory LLC Sells 790 Shares of International Business Machines Corporation (NYSE:IBM)

Silver Lake Advisory LLC lessened its position in shares of International Business Machines Corporation (NYSE:IBM) by 31.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,732 shares of the technology company’s stock after selling 790 shares during the period. Silver Lake Advisory LLC’s holdings in International Business Machines were worth $431,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IBM. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines during the fourth quarter worth about $35,000. Tacita Capital Inc increased its position in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the 4th quarter worth about $43,000. Finally, Park Square Financial Group LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 1.6%

NYSE IBM opened at $293.89 on Wednesday. The stock’s 50 day moving average is $259.78 and its 200 day moving average is $246.40. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $273.14 billion, a PE ratio of 50.58, a P/E/G ratio of 6.07 and a beta of 0.66. International Business Machines Corporation has a twelve month low of $170.41 and a twelve month high of $294.60.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating 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 the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.29%. International Business Machines’s payout ratio is 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush lifted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Finally, Bank of America increased their target price on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $253.75.

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.