Goldstein Advisors LLC Cuts Holdings in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

Goldstein Advisors LLC trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 30.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,345 shares of the technology company’s stock after selling 587 shares during the period. Goldstein Advisors LLC’s holdings in International Business Machines were worth $334,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wealth Dimensions Group Ltd. grew its stake in shares of International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after acquiring an additional 40 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after acquiring an additional 42 shares in the last quarter. Schechter Investment Advisors LLC grew its stake in shares of International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after acquiring an additional 43 shares in the last quarter. Titleist Asset Management LLC grew its stake in shares of International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after acquiring an additional 43 shares in the last quarter. Finally, Range Financial Group LLC grew its stake in shares of International Business Machines by 0.6% during the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock valued at $1,828,000 after acquiring an additional 43 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Wedbush lifted their price target on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada lifted their price target on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $253.75.

Check Out Our Latest Research Report on International Business Machines

International Business Machines Stock Performance

Shares of IBM stock opened at $291.38 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The business has a 50 day moving average of $260.83 and a two-hundred day moving average of $246.71. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $296.16. The company has a market cap of $270.81 billion, a P/E ratio of 50.15, a PEG ratio of 6.17 and a beta of 0.66.

International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the firm posted $1.68 earnings per share. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

International Business Machines Profile

(Free Report)

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.

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