Saxon Interests Inc. Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Saxon Interests Inc. lessened its position in International Business Machines Co. (NYSE:IBM) by 51.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,416 shares of the technology company’s stock after selling 3,584 shares during the quarter. Saxon Interests Inc.’s holdings in International Business Machines were worth $652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Naples Money Management LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the 4th quarter valued at about $31,000. Financial Gravity Asset Management Inc. raised its position in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. raised its position in International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBM. Bank of America increased their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Sanford C. Bernstein raised their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. The Goldman Sachs Group began coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Finally, UBS Group raised their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $182.53.

International Business Machines Stock Performance

NYSE:IBM traded up $2.21 during mid-day trading on Tuesday, reaching $177.31. 2,882,965 shares of the stock were exchanged, compared to its average volume of 4,543,362. The company has a 50 day simple moving average of $169.82 and a 200-day simple moving average of $176.66. The stock has a market capitalization of $162.88 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.27 and a beta of 0.71. 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 Co. has a 1 year low of $131.55 and a 1 year high of $199.18.

International Business Machines (NYSE:IBM) last announced its earnings results 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 return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $1.67 dividend. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.77%. International Business Machines’s payout ratio is 75.65%.

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.