Dumont & Blake Investment Advisors LLC Has $1.73 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Dumont & Blake Investment Advisors LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 4.3% in the first quarter, HoldingsChannel reports. The fund owned 9,035 shares of the technology company’s stock after selling 410 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in International Business Machines were worth $1,725,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Trilogy Capital Inc. bought a new position in International Business Machines in the 1st quarter valued at $434,000. Red Door Wealth Management LLC increased its position in International Business Machines by 98.5% in the first quarter. Red Door Wealth Management LLC now owns 4,412 shares of the technology company’s stock worth $843,000 after purchasing an additional 2,189 shares during the period. Cornerstone Wealth Group LLC raised its holdings in International Business Machines by 97.9% during the 1st quarter. Cornerstone Wealth Group LLC now owns 3,431 shares of the technology company’s stock worth $655,000 after purchasing an additional 1,697 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in International Business Machines by 10.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 52,147 shares of the technology company’s stock valued at $9,958,000 after purchasing an additional 4,900 shares during the period. Finally, Foguth Wealth Management LLC. bought a new position in shares of International Business Machines in the 1st quarter valued at about $273,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wedbush increased their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. The Goldman Sachs Group initiated coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Morgan Stanley cut their target price on 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. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Stock Up 1.2 %

IBM stock traded up $2.10 during mid-day trading on Friday, hitting $172.95. 4,193,459 shares of the company were exchanged, compared to its average volume of 3,570,876. The firm has a market cap of $158.87 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.27 and a beta of 0.72. International Business Machines Co. has a 1-year low of $131.55 and a 1-year high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The firm’s 50 day simple moving average is $169.95 and its 200 day simple moving average is $176.48.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $1.36 earnings per share. On average, sell-side analysts predict that International Business Machines Co. will post 9.9 EPS 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. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

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.