Newbridge Financial Services Group Inc. Sells 558 Shares of International Business Machines Co. (NYSE:IBM)

Newbridge Financial Services Group Inc. decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 16.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,829 shares of the technology company’s stock after selling 558 shares during the period. Newbridge Financial Services Group Inc.’s holdings in International Business Machines were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines in the second quarter worth $7,160,000. Mosley Wealth Management purchased a new position in International Business Machines in the 4th quarter worth approximately $312,000. Hodges Capital Management Inc. raised its position in shares of International Business Machines by 60.8% during 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 in the last quarter. Burns J W & Co. Inc. NY lifted its stake in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in shares of International Business Machines in the 4th quarter worth about $3,017,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on IBM shares. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company 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 report on Friday, July 26th. Royal Bank of Canada increased their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus increased their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $191.93.

International Business Machines Stock Down 0.8 %

NYSE:IBM opened at $219.36 on Wednesday. The firm has a market cap of $201.50 billion, a P/E ratio of 24.84, a P/E/G ratio of 4.90 and a beta of 0.70. The firm has a 50-day simple moving average of $201.62 and a two-hundred day simple moving average of $185.54. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $224.15. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating 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 the consensus estimate of $15.62 billion. During the same quarter in the prior year, the company earned $2.18 earnings per share. International Business Machines’s revenue was up 1.9% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.05%. International Business Machines’s payout ratio is 75.65%.

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.