Spirepoint Private Client LLC Reduces Position in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

Spirepoint Private Client LLC trimmed its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,583 shares of the technology company’s stock after selling 165 shares during the quarter. Spirepoint Private Client LLC’s holdings in International Business Machines were worth $891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Vision Financial Markets LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines in the 4th quarter worth about $35,000. Tacita Capital Inc increased its stake in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after buying an additional 122 shares during the period. Park Square Financial Group LLC bought a new stake in International Business Machines during the 4th quarter valued at about $43,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in International Business Machines in the 4th quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Morgan Stanley decreased their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $253.75.

Get Our Latest Stock Analysis on International Business Machines

International Business Machines Trading Up 2.9%

Shares of NYSE:IBM opened at $289.25 on Tuesday. The business’s 50-day moving average is $258.71 and its 200 day moving average is $246.07. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $292.95. The firm has a market capitalization of $268.83 billion, a P/E ratio of 49.78, a P/E/G ratio of 5.90 and a beta of 0.66.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. International Business Machines’s payout ratio is presently 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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