Beck Capital Management LLC Decreases Stake in International Business Machines Co. (NYSE:IBM)

Beck Capital Management LLC decreased its holdings in International Business Machines Co. (NYSE:IBM) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,372 shares of the technology company’s stock after selling 63 shares during the quarter. Beck Capital Management LLC’s holdings in International Business Machines were worth $237,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Harmony Asset Management LLC grew its position in shares of International Business Machines by 57.4% during the second quarter. Harmony Asset Management LLC now owns 3,684 shares of the technology company’s stock worth $637,000 after buying an additional 1,343 shares in the last quarter. DRW Securities LLC bought a new position in shares of International Business Machines during the second quarter worth about $1,334,000. Delos Wealth Advisors LLC acquired a new position in International Business Machines in the second quarter worth about $640,000. Edge Capital Group LLC increased its holdings in International Business Machines by 24.8% in the second quarter. Edge Capital Group LLC now owns 25,687 shares of the technology company’s stock valued at $4,443,000 after buying an additional 5,098 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in International Business Machines by 6.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,555 shares of the technology company’s stock valued at $491,000 after buying an additional 150 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. 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 note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. 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 report on Wednesday, September 11th. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $188.60.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $217.70 on Monday. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $218.84. The stock has a market cap of $199.98 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70. The stock’s 50 day moving average price is $196.52 and its 200 day moving average price 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.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (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 for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company earned $2.18 earnings per share. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm 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 was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

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.