International Business Machines Corporation (NYSE:IBM) Shares Sold by Lodestar Private Asset Management LLC

by · The Markets Daily

Lodestar Private Asset Management LLC decreased its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 8.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,972 shares of the technology company’s stock after selling 181 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in International Business Machines were worth $490,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MinichMacGregor Wealth Management LLC acquired a new position in International Business Machines in the 1st quarter worth about $396,000. Treasurer of the State of North Carolina raised its holdings in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after purchasing an additional 4,131 shares during the period. Mufg Securities Americas Inc. acquired a new position in International Business Machines in the 4th quarter worth about $3,000,000. Magnolia Private Wealth LLC purchased a new stake in International Business Machines during the 1st quarter worth approximately $239,000. Finally, Ferguson Wellman Capital Management Inc. increased its stake in International Business Machines by 0.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company’s stock worth $35,172,000 after buying an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBM. UBS Group reiterated a “sell” rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America boosted their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Royal Bank Of Canada boosted their price objective 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. Finally, Morgan Stanley cut their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $253.75.

View Our Latest Stock Analysis on International Business Machines

International Business Machines Price Performance

Shares of NYSE:IBM opened at $294.64 on Tuesday. 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 company has a market cap of $273.84 billion, a P/E ratio of 50.71, a PEG ratio of 6.08 and a beta of 0.66. International Business Machines Corporation has a 52 week low of $173.38 and a 52 week high of $296.16. The company has a 50-day moving average price of $264.09 and a 200 day moving average price of $248.22.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data 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 net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. Research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.28%. International Business Machines’s payout ratio is 115.66%.

About International Business Machines

(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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