Prime Capital Investment Advisors LLC Sells 10,648 Shares of International Business Machines Co. (NYSE:IBM)

Prime Capital Investment Advisors LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 22.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,041 shares of the technology company’s stock after selling 10,648 shares during the period. Prime Capital Investment Advisors LLC’s holdings in International Business Machines were worth $6,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. Norges Bank acquired a new position in International Business Machines during the fourth quarter worth approximately $1,019,009,000. Price T Rowe Associates Inc. MD increased its position in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the last quarter. LSV Asset Management increased its position in International Business Machines by 4.8% during the first quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock worth $341,445,000 after buying an additional 81,887 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in International Business Machines by 1.2% during the first quarter. California State Teachers Retirement System now owns 1,503,981 shares of the technology company’s stock worth $287,200,000 after buying an additional 17,715 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on IBM shares. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. BMO Capital Markets upped their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, UBS Group upped their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $188.60.

International Business Machines Stock Up 1.5 %

NYSE IBM opened at $214.79 on Monday. The business has a fifty day moving average price of $192.83 and a two-hundred day moving average price of $183.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $216.09. The stock has a market capitalization of $197.85 billion, a PE ratio of 24.33, a PEG ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company earned $2.18 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is presently 75.65%.

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.