Hengehold Capital Management LLC Sells 91 Shares of International Business Machines Co. (NYSE:IBM)

Hengehold Capital Management LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 2.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,698 shares of the technology company’s stock after selling 91 shares during the quarter. Hengehold Capital Management LLC’s holdings in International Business Machines were worth $706,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Naples Money Management LLC purchased a new position in International Business Machines in the fourth quarter valued at $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines in the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $31,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of International Business Machines by 54.6% in the first quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock valued at $42,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.8 %

IBM traded up $1.36 during trading hours on Friday, hitting $172.21. 1,405,512 shares of the company’s stock were exchanged, compared to its average volume of 4,543,418. International Business Machines Co. has a 12-month low of $131.55 and a 12-month high of $199.18. The firm has a 50 day moving average of $170.34 and a 200 day moving average of $176.37. The firm has a market cap of $158.19 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 4.24 and a beta of 0.72. 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 earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the prior year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.88%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Sanford C. Bernstein lifted their target price 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. Wedbush boosted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has an average 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.