International Business Machines Co. (NYSE:IBM) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,720 shares of the technology company’s stock after selling 3,725 shares during the quarter. International Business Machines accounts for about 1.4% of Janney Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Janney Capital Management LLC’s holdings in International Business Machines were worth $20,379,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IBM. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after buying an additional 365,388 shares during the period. Morgan Stanley raised its stake in shares of International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of International Business Machines by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after purchasing an additional 61,028 shares during the period. Norges Bank acquired a new stake in International Business Machines during the 4th quarter valued at $1,019,009,000. Finally, Dimensional Fund Advisors LP increased its stake in International Business Machines by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after buying an additional 97,482 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM traded up $0.29 during trading hours on Friday, reaching $176.02. The company’s stock had a trading volume of 2,085,970 shares, compared to its average volume of 3,396,618. The stock has a market cap of $161.69 billion, a PE ratio of 19.93, a PEG ratio of 4.34 and a beta of 0.71. The business has a 50-day simple moving average of $169.86 and a 200 day simple moving average of $176.84. International Business Machines Co. has a 52 week low of $131.55 and a 52 week high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the business posted $1.36 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. BMO Capital Markets lowered their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of International Business Machines in a report on Wednesday, May 22nd. Jefferies Financial Group reduced their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.