Pekin Hardy Strauss Inc. Sells 2,568 Shares of International Business Machines Co. (NYSE:IBM)

Pekin Hardy Strauss Inc. lowered its position in International Business Machines Co. (NYSE:IBM) by 45.4% in the second quarter, Holdings Channel.com reports. The fund owned 3,093 shares of the technology company’s stock after selling 2,568 shares during the period. Pekin Hardy Strauss Inc.’s holdings in International Business Machines were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Moors & Cabot Inc. lifted its position in shares of International Business Machines by 3.0% in the 2nd quarter. Moors & Cabot Inc. now owns 86,927 shares of the technology company’s stock worth $15,034,000 after acquiring an additional 2,501 shares during the period. Excalibur Management Corp lifted its position in shares of International Business Machines by 5.0% in the 2nd quarter. Excalibur Management Corp now owns 13,962 shares of the technology company’s stock worth $2,415,000 after acquiring an additional 659 shares during the period. Luts & Greenleigh Group Inc. bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $202,000. Wulff Hansen & CO. lifted its position in shares of International Business Machines by 17,195.0% in the 2nd quarter. Wulff Hansen & CO. now owns 290,902 shares of the technology company’s stock worth $50,312,000 after acquiring an additional 289,220 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its position in shares of International Business Machines by 12.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,513 shares of the technology company’s stock worth $2,510,000 after acquiring an additional 1,612 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $214.13 on Wednesday. The company has a market cap of $196.70 billion, a PE ratio of 24.25, a PEG ratio of 4.67 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $218.84. The company’s 50-day moving average is $194.37 and its two-hundred day moving average is $183.78.

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

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.12%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Jefferies Financial Group boosted their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three investment 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. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target 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.