Arax Advisory Partners Sells 13,968 Shares of International Business Machines Corporation $IBM

Arax Advisory Partners lowered its holdings in International Business Machines Corporation (NYSE:IBM) by 46.5% in the 4th quarter, HoldingsChannel reports. The firm owned 16,103 shares of the technology company’s stock after selling 13,968 shares during the quarter. Arax Advisory Partners’ holdings in International Business Machines were worth $4,770,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Family CFO Inc bought a new stake in shares of International Business Machines in the 4th quarter valued at about $25,000. Basepoint Wealth LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $25,000. Joseph Group Capital Management bought a new stake in shares of International Business Machines in the 4th quarter valued at about $28,000. SWAN Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $28,000. Finally, DecisionPoint Financial LLC raised its holdings in shares of International Business Machines by 1,666.7% in the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IBM shares. Jefferies Financial Group reduced their price target on shares of International Business Machines from $370.00 to $320.00 and set a “buy” rating for the company in a report on Monday, April 20th. Oppenheimer cut their price objective on shares of International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Thursday, May 28th. HSBC raised shares of International Business Machines from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $218.00 to $231.00 in a research report on Tuesday, April 28th. Finally, DZ Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective on the stock in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Stock Down 0.2%

NYSE:IBM opened at $271.77 on Monday. The company has a market cap of $255.43 billion, a PE ratio of 24.03, a P/E/G ratio of 2.82 and a beta of 0.66. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $332.46. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The company’s 50 day moving average is $250.02 and its two-hundred day moving average is $270.10.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. International Business Machines’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. Analysts anticipate that International Business Machines Corporation will post 12.38 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a $1.69 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. International Business Machines’s payout ratio is currently 59.77%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.