International Business Machines Corporation (NYSE:IBM) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. reduced its position in International Business Machines Corporation (NYSE:IBM) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,344 shares of the technology company’s stock after selling 244 shares during the quarter. Lee Danner & Bass Inc.’s holdings in International Business Machines were worth $3,318,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $35,000. Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth $43,000. Park Square Financial Group LLC acquired a new position in shares of International Business Machines in the fourth quarter worth $43,000. Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in International Business Machines during the 1st quarter worth $45,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.4%

International Business Machines stock opened at $291.66 on Friday. International Business Machines Corporation has a twelve month low of $174.45 and a twelve month high of $296.16. The stock has a 50 day moving average of $268.36 and a two-hundred day moving average of $249.86. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $271.06 billion, a price-to-earnings ratio of 50.20, a PEG ratio of 6.13 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued 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. 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 during the quarter, compared to the consensus estimate of $14.41 billion. During the same period last year, the company earned $1.68 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend yield of 2.30%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup reissued an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.50.

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.