G&S Capital LLC Sells 4,894 Shares of International Business Machines Co. (NYSE:IBM)

G&S Capital LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 64.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,670 shares of the technology company’s stock after selling 4,894 shares during the period. G&S Capital LLC’s holdings in International Business Machines were worth $510,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in International Business Machines by 0.4% during the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after purchasing an additional 365,388 shares during the period. Morgan Stanley grew its holdings in International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in International Business Machines by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after purchasing an additional 61,028 shares during the period. Norges Bank acquired a new position in International Business Machines during the fourth quarter valued at approximately $1,019,009,000. Finally, Dimensional Fund Advisors LP grew its holdings in International Business Machines by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after purchasing an additional 97,482 shares during the period. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IBM shares. BMO Capital Markets reduced their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group started coverage on shares of International Business Machines in a report on Monday. They issued a “buy” rating and a $200.00 price target for the company. Morgan Stanley reduced their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. UBS Group upped their price target on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Finally, BNP Paribas started coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Price Performance

IBM opened at $171.87 on Thursday. 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 capitalization of $157.88 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 4.26 and a beta of 0.72. The firm’s fifty day moving average price is $170.56 and its two-hundred day moving average price is $176.40. International Business Machines Co. has a 1 year low of $130.83 and a 1 year high of $199.18.

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

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Thursday, May 9th. International Business Machines’s payout ratio is 75.65%.

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.