Allen Mooney & Barnes Investment Advisors LLC Sells 174 Shares of International Business Machines Co. (NYSE:IBM)

Allen Mooney & Barnes Investment Advisors LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,406 shares of the technology company’s stock after selling 174 shares during the quarter. International Business Machines makes up 1.6% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 26th biggest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in International Business Machines were worth $8,255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Naples Money Management LLC purchased a new stake in International Business Machines in the fourth quarter worth $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the fourth quarter worth $31,000. Stone House Investment Management LLC grew its stake in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the period. Finally, Financial Gravity Asset Management Inc. grew its stake in International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.5 %

International Business Machines stock opened at $175.02 on Tuesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. International Business Machines Co. has a one year low of $129.31 and a one year high of $199.18. The stock has a market capitalization of $160.77 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 4.25 and a beta of 0.72. The business’s fifty day moving average is $170.79 and its 200 day moving average is $176.33.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 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 company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period last year, the firm posted $1.36 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.82%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IBM. The Goldman Sachs Group began coverage on International Business Machines in a research note on Monday. They issued a “buy” rating and a $200.00 price target on the stock. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. UBS Group increased their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Finally, 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. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Company 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.