Fort Pitt Capital Group LLC Has $269,000 Holdings in International Business Machines Co. (NYSE:IBM)

Fort Pitt Capital Group LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,408 shares of the technology company’s stock after selling 106 shares during the period. Fort Pitt Capital Group LLC’s holdings in International Business Machines were worth $269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearbridge Investments LLC increased its holdings in International Business Machines by 5.8% in the third quarter. Clearbridge Investments LLC now owns 34,406 shares of the technology company’s stock worth $4,827,000 after buying an additional 1,891 shares during the last quarter. AlphaCore Capital LLC acquired a new position in International Business Machines in the third quarter worth approximately $205,000. Cary Street Partners Investment Advisory LLC increased its holdings in International Business Machines by 85.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 28,892 shares of the technology company’s stock worth $4,054,000 after buying an additional 13,354 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in International Business Machines by 0.4% in the third quarter. Jacobi Capital Management LLC now owns 26,761 shares of the technology company’s stock worth $3,755,000 after buying an additional 109 shares during the last quarter. Finally, Natixis Advisors L.P. increased its holdings in International Business Machines by 18.1% in the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock worth $52,235,000 after buying an additional 57,170 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $5.80 during trading hours on Monday, reaching $178.26. The stock had a trading volume of 1,162,914 shares, compared to its average volume of 4,567,741. The business’s fifty day moving average is $170.91 and its two-hundred day moving average is $176.23. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The company has a market cap of $163.75 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.29 and a beta of 0.72. International Business Machines Co. has a twelve month low of $129.31 and a twelve month high of $199.18.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.75%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

IBM has been the subject of a number of recent analyst reports. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Bank of America upped their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Sanford C. Bernstein upped their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday. They set a “buy” rating and a $200.00 target price for the company. Finally, Morgan Stanley decreased their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $182.53.

About International Business Machines

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.