Colton Groome Financial Advisors LLC Lowers Stake in International Business Machines Co. (NYSE:IBM)

Colton Groome Financial Advisors LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,269 shares of the technology company’s stock after selling 131 shares during the period. Colton Groome Financial Advisors LLC’s holdings in International Business Machines were worth $242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Naples Money Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines during the 4th quarter worth $31,000. Stone House Investment Management LLC lifted its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its position in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM traded up $2.15 on Monday, hitting $175.10. The company’s stock had a trading volume of 3,306,813 shares, compared to its average volume of 4,556,641. International Business Machines Co. has a 12-month low of $131.55 and a 12-month high of $199.18. The company has a market capitalization of $160.85 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The stock has a 50 day moving average of $169.95 and a 200-day moving average of $176.57.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.18% and a return on equity of 40.21%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share. As a group, research analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 3.81%. International Business Machines’s dividend payout ratio is 75.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein boosted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Morgan Stanley dropped their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. BMO Capital Markets dropped their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Finally, Wedbush lifted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $182.53.

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.