International Business Machines Co. (NYSE:IBM) Shares Sold by Sandy Cove Advisors LLC

Sandy Cove Advisors LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,920 shares of the technology company’s stock after selling 89 shares during the period. Sandy Cove Advisors LLC’s holdings in International Business Machines were worth $558,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in International Business Machines during the 4th quarter worth approximately $1,019,009,000. International Assets Investment Management LLC raised its position in International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after purchasing an additional 2,636,386 shares during the last quarter. Morgan Stanley boosted its stake in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Capital Wealth Planning LLC purchased a new position in International Business Machines during the 4th quarter worth $172,887,000. Finally, Junto Capital Management LP acquired a new position in International Business Machines in the fourth quarter valued at $62,020,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM traded up $2.10 during trading on Friday, reaching $172.95. 4,193,459 shares of the stock were exchanged, compared to its average volume of 3,570,876. International Business Machines Co. has a 1 year low of $131.55 and a 1 year high of $199.18. The company has a market capitalization of $158.87 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 4.27 and a beta of 0.72. The business’s 50 day moving average price is $169.95 and its two-hundred day moving average price is $176.48. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Thursday, May 9th. International Business Machines’s payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IBM. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. Sanford C. Bernstein upped their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. BNP Paribas began coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. Wedbush boosted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 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 analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $182.53.

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.