Golden State Wealth Management LLC Sells 171 Shares of International Business Machines Corporation (NYSE:IBM)

Golden State Wealth Management LLC cut its position in shares of International Business Machines Corporation (NYSE:IBM) by 10.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,511 shares of the technology company’s stock after selling 171 shares during the period. Golden State Wealth Management LLC’s holdings in International Business Machines were worth $376,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IBM. Wealth Dimensions Group Ltd. boosted its holdings in International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after purchasing an additional 40 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in shares of International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after buying an additional 42 shares during the period. Titleist Asset Management LLC boosted its stake in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after buying an additional 43 shares in the last quarter. Range Financial Group LLC grew its position in International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock valued at $1,828,000 after acquiring an additional 43 shares during the period. Finally, Private Wealth Partners LLC grew its position in International Business Machines by 1.7% in the first quarter. Private Wealth Partners LLC now owns 2,647 shares of the technology company’s stock valued at $658,000 after acquiring an additional 43 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

International Business Machines stock opened at $291.66 on Friday. The business’s 50-day simple moving average is $268.36 and its 200 day simple moving average is $249.86. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market cap of $271.06 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 6.13 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $174.45 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 EPS. As a group, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley cut their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Bank of America boosted their target price on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $257.50.

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.