International Business Machines Co. (NYSE:IBM) Shares Sold by Penbrook Management LLC

Penbrook Management LLC lowered its holdings in International Business Machines Co. (NYSE:IBM) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,295 shares of the technology company’s stock after selling 95 shares during the period. Penbrook Management LLC’s holdings in International Business Machines were worth $820,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IBM. Desjardins Global Asset Management Inc. lifted its stake in International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after acquiring an additional 54 shares during the last quarter. Arden Trust Co lifted its position in shares of International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares during the last quarter. Calamos Wealth Management LLC lifted its position in shares of International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after buying an additional 55 shares during the last quarter. Avion Wealth lifted its position in shares of International Business Machines by 6.2% during the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after buying an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Wedbush boosted their price objective 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. dropped their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. BNP Paribas started coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $182.53.

International Business Machines Trading Up 1.3 %

Shares of IBM stock traded up $2.20 during trading hours on Tuesday, hitting $177.30. 2,882,776 shares of the company were exchanged, compared to its average volume of 4,543,362. The firm has a market cap of $162.87 billion, a PE ratio of 20.05, a PEG ratio of 4.27 and a beta of 0.71. International Business Machines Co. has a 1 year low of $131.55 and a 1 year high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a fifty day moving average of $169.82 and a 200 day moving average of $176.66.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. Analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current 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 given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is 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.