Ridgecrest Wealth Partners LLC Reduces Position in International Business Machines Co. (NYSE:IBM)

Ridgecrest Wealth Partners LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,426 shares of the technology company’s stock after selling 200 shares during the period. International Business Machines makes up 1.1% of Ridgecrest Wealth Partners LLC’s holdings, making the stock its 22nd biggest position. Ridgecrest Wealth Partners LLC’s holdings in International Business Machines were worth $1,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vontobel Holding Ltd. boosted its position in shares of International Business Machines by 20.3% during the 4th quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after acquiring an additional 80,474 shares during the last quarter. Tsfg LLC raised its stake in International Business Machines by 40.5% during the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock worth $62,000 after purchasing an additional 109 shares during the period. Auxano Advisors LLC boosted its holdings in International Business Machines by 4.8% in the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock valued at $556,000 after purchasing an additional 156 shares during the last quarter. Waverly Advisors LLC grew its stake in shares of International Business Machines by 48.1% in the 3rd quarter. Waverly Advisors LLC now owns 19,692 shares of the technology company’s stock valued at $2,763,000 after buying an additional 6,397 shares during the period. Finally, West Family Investments Inc. raised its position in shares of International Business Machines by 7.6% during the 4th quarter. West Family Investments Inc. now owns 2,736 shares of the technology company’s stock valued at $447,000 after buying an additional 194 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE:IBM opened at $172.95 on Friday. International Business Machines Co. has a 52 week low of $131.55 and a 52 week high of $199.18. The company has a fifty day simple moving average of $169.95 and a two-hundred day simple moving average of $176.48. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The company has a market cap of $158.87 billion, a price-to-earnings 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 released its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 EPS. As a group, equities analysts anticipate 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 issued a $1.67 dividend. 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. This represents a $6.68 annualized dividend and a yield of 3.86%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Wedbush upped their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Finally, BNP Paribas assumed coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target on the stock. Three 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.