Financial Sense Advisors Inc. Sells 1,027 Shares of International Business Machines Co. (NYSE:IBM)

Financial Sense Advisors Inc. reduced its holdings in International Business Machines Co. (NYSE:IBM) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,327 shares of the technology company’s stock after selling 1,027 shares during the quarter. International Business Machines accounts for about 0.9% of Financial Sense Advisors Inc.’s investment portfolio, making the stock its 27th largest position. Financial Sense Advisors Inc.’s holdings in International Business Machines were worth $2,736,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Dupree Financial Group LLC bought a new position in shares of International Business Machines during the 1st quarter valued at about $228,000. DMC Group LLC increased its position in shares of International Business Machines by 10.8% during the 1st quarter. DMC Group LLC now owns 3,230 shares of the technology company’s stock valued at $617,000 after purchasing an additional 316 shares during the last quarter. Abundance Wealth Counselors increased its position in shares of International Business Machines by 3.8% during the 1st quarter. Abundance Wealth Counselors now owns 17,967 shares of the technology company’s stock valued at $3,431,000 after purchasing an additional 660 shares during the last quarter. Norden Group LLC increased its position in shares of International Business Machines by 1,767.1% during the 1st quarter. Norden Group LLC now owns 94,400 shares of the technology company’s stock valued at $18,027,000 after purchasing an additional 89,344 shares during the last quarter. Finally, Arvest Investments Inc. purchased a new stake in International Business Machines during the 1st quarter valued at about $1,927,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.9 %

Shares of NYSE:IBM opened at $175.71 on Thursday. International Business Machines Co. has a 52-week low of $131.55 and a 52-week high of $199.18. The firm has a market capitalization of $161.41 billion, a P/E ratio of 19.90, a P/E/G ratio of 4.37 and a beta of 0.71. The stock has a 50 day moving average price of $169.72 and a 200-day moving average price of $176.76. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter last year, the company earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analyst Weigh In

IBM has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Bank of America increased their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Stifel Nicolaus restated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. Jefferies Financial Group dropped their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Finally, BNP Paribas started coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.