Stonebrook Private Inc. Sells 597 Shares of International Business Machines Co. (NYSE:IBM)

Stonebrook Private Inc. lessened its position in International Business Machines Co. (NYSE:IBM) by 27.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,599 shares of the technology company’s stock after selling 597 shares during the quarter. Stonebrook Private Inc.’s holdings in International Business Machines were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Arden Trust Co boosted its stake in 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 buying an additional 54 shares in the last quarter. Armbruster Capital Management Inc. raised its position in International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after purchasing an additional 56 shares during the period. CVA Family Office LLC lifted its stake in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares during the last quarter. Finally, Peddock Capital Advisors LLC increased its holdings in shares of International Business Machines by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after buying an additional 58 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.9 %

International Business Machines stock traded down $1.85 on Friday, hitting $200.74. 3,304,491 shares of the stock traded hands, compared to its average volume of 4,223,954. The business’s fifty day simple moving average is $189.52 and its 200 day simple moving average is $182.51. The firm has a market cap of $184.40 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $205.95.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm posted $2.18 earnings per share. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.09 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analyst Ratings Changes

A number of brokerages have commented on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets increased their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $185.93.

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.