Steel Grove Capital Advisors LLC Has $1.77 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Steel Grove Capital Advisors LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 30.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,226 shares of the technology company’s stock after selling 4,398 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in International Business Machines were worth $1,769,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IBM. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines during the first quarter worth $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock opened at $217.70 on Monday. The stock’s 50 day moving average is $196.52 and its 200 day moving average is $184.24. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market cap of $199.98 billion, a P/E ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a one year low of $135.87 and a one year high of $218.84.

International Business Machines (NYSE:IBM) last posted 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 company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. 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%.

Analyst Ratings Changes

A number of research firms have recently weighed in on IBM. Stifel Nicolaus lifted their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Evercore ISI raised their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets raised their price target 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $188.60.

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.