Opinicus Capital Inc. Trims Position in International Business Machines Co. (NYSE:IBM)

Opinicus Capital Inc. cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,878 shares of the technology company’s stock after selling 101 shares during the period. Opinicus Capital Inc.’s holdings in International Business Machines were worth $550,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Naples Money Management LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Stone House Investment Management LLC boosted its position 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. boosted its holdings in International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 91 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

International Business Machines stock traded up $2.10 during midday trading on Friday, reaching $172.95. 4,193,459 shares of the stock traded hands, compared to its average volume of 3,570,876. The stock’s fifty day moving average is $169.95 and its 200-day moving average is $176.40. International Business Machines Co. has a 12 month low of $131.55 and a 12 month high of $199.18. The stock has a market cap of $158.87 billion, a P/E ratio of 19.59, a PEG ratio of 4.21 and a beta of 0.72. 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 announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 earnings per share. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.86%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Ratings Changes

Several research firms have commented on IBM. UBS Group boosted their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Morgan Stanley dropped their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. BNP Paribas began coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price on the stock. BMO Capital Markets dropped their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average 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.