McElhenny Sheffield Capital Management LLC Has $820,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Posted by Michael Baxter on Mar 19th, 2023

McElhenny Sheffield Capital Management LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,823 shares of the technology company’s stock after selling 99 shares during the period. McElhenny Sheffield Capital Management LLC’s holdings in International Business Machines were worth $820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in shares of International Business Machines in the third quarter worth $36,000. McClarren Financial Advisors Inc. acquired a new stake in shares of International Business Machines in the third quarter worth $38,000. Heritage Wealth Management LLC acquired a new stake in shares of International Business Machines in the second quarter worth $47,000. Ten Capital Wealth Advisors LLC grew its stake in shares of International Business Machines by 352.5% in the third quarter. Ten Capital Wealth Advisors LLC now owns 362 shares of the technology company’s stock worth $43,000 after acquiring an additional 282 shares during the last quarter. Finally, Bray Capital Advisors grew its stake in shares of International Business Machines by 33.3% in the third quarter. Bray Capital Advisors now owns 404 shares of the technology company’s stock worth $48,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 55.90% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM traded down $1.01 during midday trading on Friday, reaching $123.69. 37,400,167 shares of the company traded hands, compared to its average volume of 5,355,924. The firm has a market cap of $112.20 billion, a PE ratio of 70.28, a PEG ratio of 3.22 and a beta of 0.85. The stock’s 50-day simple moving average is $134.65 and its 200-day simple moving average is $135.07. International Business Machines Co. has a 12 month low of $115.54 and a 12 month high of $153.21. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.87 and a current ratio of 0.92.

International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The technology company reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.61 by ($0.01). International Business Machines had a net margin of 2.71% and a return on equity of 41.24%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.38 billion. During the same period in the previous year, the business posted $3.35 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts anticipate that International Business Machines Co. will post 9.46 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were issued a $1.65 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 5.34%. International Business Machines’s dividend payout ratio is 375.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IBM shares. Citigroup raised their price objective on shares of International Business Machines from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. Morgan Stanley decreased their price target on shares of International Business Machines from $148.00 to $143.00 in a research note on Thursday, January 26th. Evercore ISI lifted their price target on shares of International Business Machines from $135.00 to $150.00 in a research note on Tuesday, January 17th. Moffett Nathanson upgraded shares of International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 price target on the stock in a research note on Tuesday, January 24th. Finally, BMO Capital Markets lifted their price target on shares of International Business Machines from $148.00 to $155.00 and gave the stock a “market perform” rating in a research note on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $142.73.

International Business Machines Profile

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International Business Machines Corp. is an information technology company, which engages in the provision of integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other.