Park Edge Advisors LLC Decreases Stake in International Business Machines Co. (NYSE:IBM)

Park Edge Advisors LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,353 shares of the technology company’s stock after selling 101 shares during the period. Park Edge Advisors LLC’s holdings in International Business Machines were worth $449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Naples Money Management LLC bought a new position in shares of International Business Machines during the fourth quarter worth about $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines during the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines during the fourth quarter worth about $31,000. Financial Gravity Asset Management Inc. lifted its position in shares of International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. lifted its position in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE IBM traded down $1.57 on Thursday, reaching $175.73. The company’s stock had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. The firm has a market cap of $161.43 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 4.37 and a beta of 0.71. The business has a 50-day moving average price of $169.55 and a 200 day moving average price of $176.76. 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.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 9.9 EPS 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 paid a $1.67 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.80%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is presently 75.65%.

Analysts Set New Price Targets

Several research firms recently weighed in on IBM. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Wedbush raised their price target on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Morgan Stanley dropped their price target on shares of 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. BMO Capital Markets dropped their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus 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.