Alpha Omega Wealth Management LLC Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Alpha Omega Wealth Management LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 52,933 shares of the technology company’s stock after selling 2,847 shares during the period. International Business Machines accounts for about 1.9% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding. Alpha Omega Wealth Management LLC’s holdings in International Business Machines were worth $10,108,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in International Business Machines by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after buying an additional 365,388 shares during the period. Morgan Stanley boosted its stake in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after buying an additional 61,028 shares in the last quarter. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $1,019,009,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of International Business Machines by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after buying an additional 97,482 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.2 %

Shares of NYSE:IBM opened at $172.95 on Friday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The business has a 50 day simple moving average of $169.95 and a two-hundred day simple moving average of $176.48. International Business Machines Co. has a 1 year low of $131.55 and a 1 year high of $199.18. The firm has a market capitalization of $158.87 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 4.27 and a beta of 0.72.

International Business Machines (NYSE:IBM) last announced 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 the consensus estimate of $14.53 billion. During the same quarter in the prior year, the company posted $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.86%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Morgan Stanley reduced their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. UBS Group boosted their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a report on Wednesday, May 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a report on Thursday, May 16th. Finally, Jefferies Financial Group cut their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $182.53.

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.