FCG Investment Co Sells 6,850 Shares of International Business Machines Co. (NYSE:IBM)

FCG Investment Co decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 72.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,551 shares of the technology company’s stock after selling 6,850 shares during the period. FCG Investment Co’s holdings in International Business Machines were worth $487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of IBM. Naples Money Management LLC acquired a new stake in International Business Machines in the 4th quarter worth about $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines during the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $31,000. Financial Gravity Asset Management Inc. boosted its stake in shares of International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 91 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. grew its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of several analyst reports. The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Sanford C. Bernstein raised their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. UBS Group upped their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Finally, Morgan Stanley reduced their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $182.53.

International Business Machines Price Performance

IBM traded down $1.57 on Thursday, reaching $175.73. The stock had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $161.43 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 4.37 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $131.55 and a fifty-two week high of $199.18. The firm has a 50-day moving average of $169.55 and a 200-day moving average of $176.76.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.65%.

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.