Yousif Capital Management LLC Sells 11,056 Shares of International Business Machines Co. (NYSE:IBM)

Yousif Capital Management LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 6.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 157,917 shares of the technology company’s stock after selling 11,056 shares during the quarter. International Business Machines comprises about 0.5% of Yousif Capital Management LLC’s holdings, making the stock its 26th biggest position. Yousif Capital Management LLC’s holdings in International Business Machines were worth $39,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IBM. Octavia Wealth Advisors LLC purchased a new position in shares of International Business Machines in the first quarter worth $251,000. International Private Wealth Advisors LLC lifted its stake in International Business Machines by 4.3% in the 1st quarter. International Private Wealth Advisors LLC now owns 1,651 shares of the technology company’s stock worth $411,000 after purchasing an additional 68 shares in the last quarter. Tounjian Advisory Partners LLC bought a new position in shares of International Business Machines during the 1st quarter valued at about $1,438,000. Pallas Capital Advisors LLC grew its position in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after purchasing an additional 42 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of International Business Machines by 47.5% in the first quarter. Farther Finance Advisors LLC now owns 26,892 shares of the technology company’s stock worth $6,732,000 after purchasing an additional 8,664 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 1.2%

Shares of International Business Machines stock opened at $272.13 on Tuesday. The firm’s 50 day simple moving average is $248.62 and its two-hundred day simple moving average is $242.46. International Business Machines Co. has a 12-month low of $166.81 and a 12-month high of $273.47. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $252.92 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. Analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $1.68 per share. 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 2.47%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group restated a “sell” rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $250.31.

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.