International Business Machines Co. (NYSE:IBM) Shares Sold by Baron Financial Group LLC

Baron Financial Group LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 17.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,753 shares of the technology company’s stock after selling 596 shares during the period. Baron Financial Group LLC’s holdings in International Business Machines were worth $684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Tallon Kerry Patrick purchased a new position in shares of International Business Machines during the 4th quarter worth $902,000. Brighton Jones LLC increased its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Trilogy Capital Inc. raised its stake in International Business Machines by 6.0% during the fourth quarter. Trilogy Capital Inc. now owns 975 shares of the technology company’s stock worth $214,000 after purchasing an additional 55 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in International Business Machines by 18.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,767 shares of the technology company’s stock valued at $388,000 after purchasing an additional 281 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $370,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. UBS Group restated a “sell” rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Oppenheimer began coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Finally, Morgan Stanley cut their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $249.06.

International Business Machines Stock Performance

NYSE:IBM opened at $268.95 on Friday. International Business Machines Co. has a 52 week low of $166.81 and a 52 week high of $270.17. The company has a fifty day simple moving average of $248.17 and a two-hundred day simple moving average of $241.98. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market cap of $249.96 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its earnings results 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 firm had revenue of $14.54 billion during 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%. International Business Machines’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 EPS. As a group, equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. 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 payout ratio is 115.66%.

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.