Richardson Financial Services Inc. Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Richardson Financial Services Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 15.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,160 shares of the technology company’s stock after selling 215 shares during the quarter. Richardson Financial Services Inc.’s holdings in International Business Machines were worth $201,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the 1st quarter valued at about $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines during the 4th quarter valued at about $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent analyst reports. Royal Bank of Canada upped their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. UBS Group upped their target price 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. Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Down 0.5 %

International Business Machines stock opened at $213.89 on Friday. The firm has a market cap of $196.48 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $218.84. The business’s 50-day moving average price is $195.83 and its 200 day moving average price is $184.21. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.18 earnings per share. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.12%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.