First Horizon Advisors Inc. Sells 5,565 Shares of International Business Machines Co. (NYSE:IBM)

First Horizon Advisors Inc. lowered its position in International Business Machines Co. (NYSE:IBM) by 2.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 206,118 shares of the technology company’s stock after selling 5,565 shares during the period. International Business Machines accounts for about 1.1% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 14th largest holding. First Horizon Advisors Inc.’s holdings in International Business Machines were worth $33,711,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IBM. Dakota Wealth Management boosted its stake in International Business Machines by 36.9% during the 3rd quarter. Dakota Wealth Management now owns 5,536 shares of the technology company’s stock valued at $777,000 after purchasing an additional 1,492 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in International Business Machines by 2.2% during the 3rd quarter. Simon Quick Advisors LLC now owns 5,689 shares of the technology company’s stock valued at $798,000 after purchasing an additional 125 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in International Business Machines by 12.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 60,124 shares of the technology company’s stock valued at $8,435,000 after purchasing an additional 6,677 shares during the last quarter. Independent Advisor Alliance boosted its stake in International Business Machines by 3.8% during the 3rd quarter. Independent Advisor Alliance now owns 48,463 shares of the technology company’s stock valued at $6,799,000 after purchasing an additional 1,764 shares during the last quarter. Finally, SkyOak Wealth LLC boosted its stake in shares of International Business Machines by 0.7% in the 3rd quarter. SkyOak Wealth LLC now owns 14,298 shares of the technology company’s stock worth $2,006,000 after buying an additional 100 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $0.37 during mid-day trading on Thursday, reaching $164.06. The stock had a trading volume of 1,838,249 shares, compared to its average volume of 4,973,333. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company has a market cap of $150.40 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The business’s 50 day moving average price is $186.54 and its 200 day moving average price is $170.87.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 earnings per share. Research analysts expect that International Business Machines Co. will post 9.94 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $1.67 per share. The ex-dividend date is Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 4.07%. International Business Machines’s dividend payout ratio is 75.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IBM shares. Jefferies Financial Group dropped their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Royal Bank of Canada raised their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. BNP Paribas started coverage on International Business Machines in a research note on Thursday. They issued an “underperform” rating and a $145.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Bank of America raised their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $181.29.

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.