International Business Machines Co. (NYSE:IBM) Stock Position Reduced by Apella Capital LLC

Apella Capital LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 19.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,314 shares of the technology company’s stock after selling 555 shares during the quarter. Apella Capital LLC’s holdings in International Business Machines were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Naples Money Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines during the fourth quarter worth about $31,000. Versant Capital Management Inc boosted its stake in International Business Machines by 54.6% in the first quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock valued at $42,000 after acquiring an additional 77 shares during the period. Finally, Stone House Investment Management LLC grew its holdings in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.8 %

Shares of IBM stock opened at $172.46 on Friday. The stock has a 50-day simple moving average of $170.91 and a 200 day simple moving average of $176.01. The stock has a market capitalization of $158.42 billion, a P/E ratio of 19.53, a P/E/G ratio of 4.29 and a beta of 0.72. International Business Machines Co. has a fifty-two week low of $129.18 and a fifty-two week high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter last year, the firm posted $1.36 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $1.67 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.87%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. BNP Paribas assumed coverage on International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective for the company. Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of International Business Machines in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $181.29.

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.