KMG Fiduciary Partners LLC Has $7.50 Million Stock Position in International Business Machines Co. (NYSE:IBM)

KMG Fiduciary Partners LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 3.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 30,173 shares of the technology company’s stock after selling 1,055 shares during the period. KMG Fiduciary Partners LLC’s holdings in International Business Machines were worth $7,503,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Compass Financial Services Inc acquired a new position in International Business Machines in the 4th quarter valued at about $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the 4th quarter valued at about $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $35,000. Tacita Capital Inc grew its stake in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after buying an additional 122 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IBM. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Royal Bank of Canada increased their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $249.06.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $268.95 on Friday. The company has a 50 day moving average of $248.17 and a 200-day moving average of $241.98. International Business Machines Co. has a 1-year low of $166.81 and a 1-year high of $270.17. 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 company has a market cap of $249.96 billion, a PE 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 issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business 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 $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.50%. International Business Machines’s dividend payout ratio is presently 115.66%.

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.