Mezzasalma Advisors LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Mezzasalma Advisors LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 68.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,255 shares of the technology company’s stock after selling 2,717 shares during the period. Mezzasalma Advisors LLC’s holdings in International Business Machines were worth $240,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in IBM. Naples Money Management LLC acquired a new position in International Business Machines during the 4th quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines in the fourth quarter worth approximately $31,000. Financial Gravity Asset Management Inc. raised its holdings in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. grew its holdings in 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 valued at $38,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.9 %

Shares of IBM stock traded down $1.57 on Thursday, reaching $175.73. 1,649,049 shares of the stock were exchanged, compared to its average volume of 3,576,998. The stock has a 50 day moving average price of $169.55 and a 200 day moving average price of $176.76. The stock has a market cap of $161.43 billion, a PE ratio of 19.90, a P/E/G ratio of 4.37 and a beta of 0.71. International Business Machines Co. has a one year low of $131.55 and a one year high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The company 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 company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. Equities research analysts forecast 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. Shareholders 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. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. International Business Machines’s payout ratio is presently 75.65%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BNP Paribas began coverage on International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Bank of America raised their price target 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. JPMorgan Chase & Co. decreased their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research report on Wednesday, May 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price objective 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 given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.