International Business Machines Co. (NYSE:IBM) Holdings Lowered by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 45.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,093 shares of the technology company’s stock after selling 2,568 shares during the period. Pekin Hardy Strauss Inc.’s holdings in International Business Machines were worth $535,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Moors & Cabot Inc. raised its position in International Business Machines by 3.0% during the second quarter. Moors & Cabot Inc. now owns 86,927 shares of the technology company’s stock valued at $15,034,000 after buying an additional 2,501 shares during the period. Excalibur Management Corp raised its position in International Business Machines by 5.0% during the second quarter. Excalibur Management Corp now owns 13,962 shares of the technology company’s stock valued at $2,415,000 after buying an additional 659 shares during the period. Luts & Greenleigh Group Inc. acquired a new position in International Business Machines during the second quarter valued at $202,000. Wulff Hansen & CO. raised its position in International Business Machines by 17,195.0% during the second quarter. Wulff Hansen & CO. now owns 290,902 shares of the technology company’s stock valued at $50,312,000 after buying an additional 289,220 shares during the period. Finally, Citizens Financial Group Inc. RI raised its position in International Business Machines by 12.5% during the second quarter. Citizens Financial Group Inc. RI now owns 14,513 shares of the technology company’s stock valued at $2,510,000 after buying an additional 1,612 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. Jefferies Financial Group upped their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” 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 stock a “buy” rating in a research report on Thursday, July 25th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, Royal Bank of Canada upped their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $188.60.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $214.13 on Wednesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market cap of $196.70 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 4.67 and a beta of 0.70. The business’s 50-day simple moving average is $194.37 and its 200-day simple moving average is $183.78. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $218.84.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.12%. 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.