Earnest Partners LLC Sells 238 Shares of International Business Machines Co. (NYSE:IBM)

Earnest Partners LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,194 shares of the technology company’s stock after selling 238 shares during the period. Earnest Partners LLC’s holdings in International Business Machines were worth $552,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the first quarter valued at $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines during the 1st quarter valued at about $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines in the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines in the fourth quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.2 %

Shares of IBM stock opened at $220.80 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $202.83 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $224.15. The stock’s 50-day moving average price is $200.17 and its 200-day moving average price is $185.32.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. During the same period in the prior year, the firm earned $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.03%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IBM shares. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Stifel Nicolaus boosted their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI raised their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective on the stock. 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 company’s stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $188.60.

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.