InTrack Investment Management Inc Has $843,000 Stock Position in International Business Machines Co. (NYSE:IBM)

InTrack Investment Management Inc reduced its stake in International Business Machines Co. (NYSE:IBM) by 24.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,416 shares of the technology company’s stock after selling 1,426 shares during the period. InTrack Investment Management Inc’s holdings in International Business Machines were worth $843,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Desjardins Global Asset Management Inc. increased its position in shares of International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares during the last quarter. Arden Trust Co increased its holdings in shares of International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after purchasing an additional 54 shares during the period. Calamos Wealth Management LLC boosted its position in shares of International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after acquiring an additional 55 shares during the last quarter. Avion Wealth increased its position in shares of International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.3 %

NYSE IBM traded up $2.21 on Tuesday, hitting $177.31. 2,882,965 shares of the stock were exchanged, compared to its average volume of 4,543,362. International Business Machines Co. has a fifty-two week low of $131.55 and a fifty-two week high of $199.18. The company has a 50-day moving average price of $169.82 and a 200-day moving average price of $176.66. The company has a market cap of $162.88 billion, a PE ratio of 20.05, a PEG ratio of 4.27 and a beta of 0.71. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

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

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.77%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IBM. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a research report on Wednesday, May 22nd. Jefferies Financial Group decreased their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Sanford C. Bernstein increased their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Morgan Stanley reduced their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $182.53.

About International Business Machines

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.