International Business Machines Co. (NYSE:IBM) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,891 shares of the technology company’s stock after selling 214 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in International Business Machines were worth $5,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of IBM. Searcy Financial Services Inc. ADV acquired a new stake in shares of International Business Machines during the first quarter worth about $219,000. Trust Co. of Virginia VA acquired a new position in shares of International Business Machines in the first quarter worth $218,000. Newton One Investments LLC increased its position in shares of International Business Machines by 22.0% during the first quarter. Newton One Investments LLC now owns 338 shares of the technology company’s stock worth $65,000 after acquiring an additional 61 shares during the period. First Dallas Securities Inc. raised its stake in shares of International Business Machines by 373.2% in the first quarter. First Dallas Securities Inc. now owns 8,755 shares of the technology company’s stock valued at $1,672,000 after acquiring an additional 6,905 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its holdings in International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE IBM traded up $2.10 during trading hours on Friday, reaching $172.95. The company’s stock had a trading volume of 4,193,459 shares, compared to its average volume of 3,570,876. 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. The business has a 50-day simple moving average of $169.95 and a 200 day simple moving average of $176.40. The stock has a market cap of $158.87 billion, a PE ratio of 19.59, a PEG ratio of 4.21 and a beta of 0.72.

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, beating 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 during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company’s quarterly 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.86%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IBM. JPMorgan Chase & Co. cut their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group began coverage on shares of International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Morgan Stanley dropped their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a report on Wednesday, May 22nd. Three equities research 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 an average rating of “Hold” and a consensus target price of $182.53.

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.