Advance Capital Management Inc. Trims Stake in International Business Machines Co. (NYSE:IBM)

Advance Capital Management Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 11.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,424 shares of the technology company’s stock after selling 302 shares during the quarter. Advance Capital Management Inc.’s holdings in International Business Machines were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Relative Value Partners Group LLC boosted its position in shares of International Business Machines by 8.6% in the 1st quarter. Relative Value Partners Group LLC now owns 6,127 shares of the technology company’s stock worth $803,000 after purchasing an additional 486 shares in the last quarter. Duality Advisers LP boosted its position in shares of International Business Machines by 435.5% in the 1st quarter. Duality Advisers LP now owns 40,502 shares of the technology company’s stock worth $5,309,000 after purchasing an additional 32,939 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of International Business Machines in the 1st quarter worth $1,974,000. Berkshire Asset Management LLC PA acquired a new stake in shares of International Business Machines in the 1st quarter worth $817,000. Finally, EP Wealth Advisors LLC purchased a new position in International Business Machines in the 1st quarter worth $2,722,000. Institutional investors own 56.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IBM shares. JPMorgan Chase & Co. started coverage on International Business Machines in a research note on Friday, July 7th. They issued a “neutral” rating and a $145.00 target price for the company. Bank of America raised their target price on International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. BMO Capital Markets raised their target price on International Business Machines from $145.00 to $150.00 and gave the stock a “market perform” rating in a research note on Monday, July 17th. Wedbush reiterated a “neutral” rating and set a $140.00 price objective on shares of International Business Machines in a research note on Thursday, July 20th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $135.00 price objective on shares of International Business Machines in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $142.91.

International Business Machines Trading Up 0.2 %

IBM stock opened at $146.55 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a 12-month low of $115.54 and a 12-month high of $153.21. The stock has a market cap of $133.51 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 3.75 and a beta of 0.85. The business’s 50-day moving average is $141.76 and its 200 day moving average is $133.34.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The company had revenue of $15.48 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the firm posted $2.31 EPS. International Business Machines’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Co. will post 9.43 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were issued a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 4.53%. The ex-dividend date was Wednesday, August 9th. International Business Machines’s payout ratio is 307.41%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.