Hemington Wealth Management Sells 617 Shares of International Business Machines Co. (NYSE:IBM)

Hemington Wealth Management decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 22.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,180 shares of the technology company’s stock after selling 617 shares during the period. Hemington Wealth Management’s holdings in International Business Machines were worth $417,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Naples Money Management LLC purchased a new position in International Business Machines during the fourth quarter worth about $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $31,000. Financial Gravity Asset Management Inc. grew its holdings 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 acquiring an additional 91 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. increased its position in shares of 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 valued at $38,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM traded up $0.45 during trading hours on Thursday, hitting $178.29. The company had a trading volume of 2,806,788 shares, compared to its average volume of 4,450,637. The firm has a 50 day simple moving average of $170.54 and a 200 day simple moving average of $177.29. International Business Machines Co. has a 52 week low of $132.57 and a 52 week high of $199.18. The firm has a market capitalization of $163.78 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 4.38 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share 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 firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. Equities research analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.75%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BNP Paribas assumed coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lowered their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. BMO Capital Markets reduced their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Finally, UBS Group lifted 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $182.53.

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.