First City Capital Management Inc. Has $1.75 Million Position in International Business Machines Co. (NYSE:IBM)

First City Capital Management Inc. reduced its position in International Business Machines Co. (NYSE:IBM) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,087 shares of the technology company’s stock after selling 175 shares during the quarter. International Business Machines makes up 1.0% of First City Capital Management Inc.’s portfolio, making the stock its 24th largest holding. First City Capital Management Inc.’s holdings in International Business Machines were worth $1,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the 1st quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines during the fourth quarter worth $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its position in 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 acquiring an additional 123 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.8 %

Shares of IBM opened at $217.70 on Friday. The stock’s 50-day moving average price is $196.52 and its two-hundred day moving average price is $184.33. 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 $199.98 billion, a PE ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $218.84.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share 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 the consensus estimate of $15.62 billion. During the same period last year, the business posted $2.18 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 is presently 75.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IBM. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada raised their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. 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. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three equities research 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.