Financial Sense Advisors Inc. Sells 1,027 Shares of International Business Machines Co. (NYSE:IBM)

Financial Sense Advisors Inc. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 6.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 14,327 shares of the technology company’s stock after selling 1,027 shares during the quarter. International Business Machines accounts for about 0.9% of Financial Sense Advisors Inc.’s portfolio, making the stock its 27th largest position. Financial Sense Advisors Inc.’s holdings in International Business Machines were worth $2,736,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Dupree Financial Group LLC purchased a new position in shares of International Business Machines during the first quarter valued at approximately $228,000. DMC Group LLC boosted its position in shares of International Business Machines by 10.8% during the first quarter. DMC Group LLC now owns 3,230 shares of the technology company’s stock valued at $617,000 after buying an additional 316 shares during the period. Abundance Wealth Counselors boosted its position in shares of International Business Machines by 3.8% during the first quarter. Abundance Wealth Counselors now owns 17,967 shares of the technology company’s stock valued at $3,431,000 after buying an additional 660 shares during the period. Norden Group LLC boosted its position in shares of International Business Machines by 1,767.1% during the first quarter. Norden Group LLC now owns 94,400 shares of the technology company’s stock valued at $18,027,000 after buying an additional 89,344 shares during the period. Finally, Arvest Investments Inc. purchased a new stake in shares of International Business Machines in the first quarter valued at approximately $1,927,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $175.71 on Thursday. The business’s fifty day simple moving average is $169.72 and its 200-day simple moving average is $176.76. The company has a market cap of $161.41 billion, a PE ratio of 19.90, a PEG ratio of 4.37 and a beta of 0.71. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 12-month low of $131.55 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last released its earnings results 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 firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the prior year, the firm earned $1.36 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. 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 presently 75.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IBM shares. 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 target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a report on Wednesday, May 22nd. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a report on Thursday, May 16th. Finally, Morgan Stanley lowered their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. 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.com, International Business Machines currently has an average 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.