Townsend Asset Management Corp NC ADV Sells 133 Shares of International Business Machines Corporation (NYSE:IBM)

Townsend Asset Management Corp NC ADV trimmed its position in shares of International Business Machines Corporation (NYSE:IBM) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,341 shares of the technology company’s stock after selling 133 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in International Business Machines were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors boosted its holdings 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 buying an additional 9,650,534 shares during the last quarter. Northern Trust Corp grew its position in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock valued at $1,783,281,000 after buying an additional 722,582 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IBM. UBS Group reissued a “sell” rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Bank of America boosted their price target on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $252.19.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $283.15 on Thursday. The company has a market cap of $263.16 billion, a P/E ratio of 48.74, a P/E/G ratio of 5.94 and a beta of 0.66. International Business Machines Corporation has a 52-week low of $170.41 and a 52-week high of $286.91. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The firm’s fifty day moving average is $255.73 and its two-hundred day moving average is $244.81.

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

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued 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 dividend on an annualized basis and a dividend yield of 2.37%. International Business Machines’s dividend payout ratio (DPR) 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.