Benjamin Edwards Inc. Sells 1,130 Shares of International Business Machines Co. (NYSE:IBM)

Benjamin Edwards Inc. lessened its holdings in International Business Machines Co. (NYSE:IBM) by 26.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,141 shares of the technology company’s stock after selling 1,130 shares during the quarter. Benjamin Edwards Inc.’s holdings in International Business Machines were worth $543,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mosley Wealth Management acquired a new position in shares of International Business Machines during the fourth quarter worth $312,000. Hodges Capital Management Inc. grew its position in shares of International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after buying an additional 7,768 shares during the last quarter. Burns J W & Co. Inc. NY increased its stake in shares of International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of International Business Machines in the fourth quarter worth approximately $3,017,000. Finally, Westwood Holdings Group Inc. increased its position in International Business Machines by 19.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock valued at $18,861,000 after purchasing an additional 19,175 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.7 %

Shares of NYSE IBM opened at $217.63 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $218.84. The stock has a market capitalization of $199.92 billion, a P/E ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70. The company has a 50-day moving average price of $196.52 and a 200-day moving average price of $184.38.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company posted $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IBM shares. BMO Capital Markets increased their price objective on shares of 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. Jefferies Financial Group lifted their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $188.60.

International Business Machines Company 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.