InTrack Investment Management Inc Sells 1,426 Shares of International Business Machines Co. (NYSE:IBM)

InTrack Investment Management Inc cut its position in International Business Machines Co. (NYSE:IBM) by 24.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,416 shares of the technology company’s stock after selling 1,426 shares during the quarter. InTrack Investment Management Inc’s holdings in International Business Machines were worth $843,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in International Business Machines during the first quarter valued at about $81,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of International Business Machines during the 1st quarter valued at approximately $1,967,000. Narus Financial Partners LLC boosted its holdings in International Business Machines by 8.4% in the 1st quarter. Narus Financial Partners LLC now owns 1,979 shares of the technology company’s stock worth $378,000 after buying an additional 153 shares during the period. Cullinan Associates Inc. grew its stake in International Business Machines by 7.3% in the 1st quarter. Cullinan Associates Inc. now owns 152,051 shares of the technology company’s stock valued at $29,036,000 after buying an additional 10,292 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in International Business Machines by 36.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 508,368 shares of the technology company’s stock valued at $97,078,000 after acquiring an additional 135,344 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM traded up $2.21 during midday trading on Tuesday, hitting $177.31. The company had a trading volume of 2,882,965 shares, compared to its average volume of 4,543,362. The stock’s fifty day moving average price is $169.82 and its 200-day moving average price is $176.66. International Business Machines Co. has a 52-week low of $131.55 and a 52-week high of $199.18. 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 capitalization of $162.88 billion, a PE ratio of 20.05, a P/E/G ratio of 4.27 and a beta of 0.71.

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. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 EPS. As a group, research analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.77%. This is a positive change 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 presently 75.65%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. BMO Capital Markets cut their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Sanford C. Bernstein raised 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. UBS Group upped their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. BNP Paribas initiated coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Finally, Morgan Stanley decreased their target price 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. 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.