Wealth Alliance Advisory Group LLC Has $354,000 Stock Position in International Business Machines Co. (NYSE:IBM)

Wealth Alliance Advisory Group LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 25.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,422 shares of the technology company’s stock after selling 495 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in International Business Machines were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Treasurer of the State of North Carolina lifted its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after acquiring an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $242,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines during the 4th quarter valued at about $373,000. Truist Financial Corp boosted its position in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after buying an additional 49,591 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in International Business Machines during the fourth quarter worth about $3,000,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.6%

NYSE:IBM opened at $265.38 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $163.88 and a 12-month high of $269.28. The stock’s fifty day simple moving average is $247.02 and its 200-day simple moving average is $240.81. The firm has a market capitalization of $246.64 billion, a P/E ratio of 41.40, a P/E/G ratio of 5.81 and a beta of 0.64.

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, topping analysts’ consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $1.68 earnings per share. Equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.53%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. UBS Group restated a “sell” rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank of Canada raised their target price on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $249.06.

International Business Machines Company 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.