Joule Financial LLC Decreases Stake in International Business Machines Co. (NYSE:IBM)

Joule Financial LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,514 shares of the technology company’s stock after selling 55 shares during the quarter. International Business Machines makes up approximately 0.7% of Joule Financial LLC’s portfolio, making the stock its 25th biggest position. Joule Financial LLC’s holdings in International Business Machines were worth $1,868,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in IBM. JBR Co Financial Management Inc lifted its holdings in International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after buying an additional 40 shares during the period. Wealth Dimensions Group Ltd. lifted its stake in International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after acquiring an additional 40 shares during the period. Schechter Investment Advisors LLC boosted its holdings in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after acquiring an additional 43 shares in the last quarter. Titleist Asset Management LLC increased its position in International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after purchasing an additional 43 shares during the period. Finally, Callan Capital LLC raised its holdings in International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $249.06.

International Business Machines Stock Up 0.8%

International Business Machines stock opened at $268.95 on Friday. International Business Machines Co. has a 12 month low of $166.81 and a 12 month high of $270.17. The stock has a fifty day simple moving average of $248.17 and a two-hundred day simple moving average of $241.79. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a market cap of $249.96 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned $1.68 EPS. Equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.50%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

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.