Stockman Wealth Management Inc. Sells 4,945 Shares of International Business Machines Co. (NYSE:IBM)

Stockman Wealth Management Inc. lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,180 shares of the technology company’s stock after selling 4,945 shares during the quarter. International Business Machines comprises approximately 2.3% of Stockman Wealth Management Inc.’s holdings, making the stock its 13th largest holding. Stockman Wealth Management Inc.’s holdings in International Business Machines were worth $15,213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Tallon Kerry Patrick acquired a new stake in International Business Machines during the fourth quarter worth $902,000. Brighton Jones LLC boosted its stake 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 buying an additional 2,323 shares in the last quarter. ABC Arbitrage SA acquired a new stake in International Business Machines during the fourth quarter worth $1,277,000. Montag A & Associates Inc. boosted its stake in International Business Machines by 0.5% during the fourth quarter. Montag A & Associates Inc. now owns 18,464 shares of the technology company’s stock worth $4,059,000 after buying an additional 100 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its stake in shares of International Business Machines by 2.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,486 shares of the technology company’s stock valued at $546,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $276.84 on Monday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a 50 day simple moving average of $252.60 and a 200 day simple moving average of $243.90. International Business Machines Co. has a 52-week low of $167.50 and a 52-week high of $283.06. The firm has a market capitalization of $257.29 billion, a PE ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66.

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

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.43%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada boosted their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $250.31.

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.