Optimist Retirement Group LLC Cuts Holdings in International Business Machines Co. (NYSE:IBM)

Optimist Retirement Group LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,053 shares of the technology company’s stock after selling 521 shares during the period. International Business Machines makes up 1.1% of Optimist Retirement Group LLC’s portfolio, making the stock its 25th biggest position. Optimist Retirement Group LLC’s holdings in International Business Machines were worth $2,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines in the 1st quarter valued at $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines during the 4th quarter worth $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its holdings in International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE IBM opened at $214.86 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $197.37 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $218.84. The business has a 50 day simple moving average of $195.11 and a 200-day simple moving average of $184.00.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IBM shares. BMO Capital Markets upped their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus lifted their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Three 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’s stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $188.60.

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.