Berger Financial Group Inc Trims Holdings in International Business Machines Corporation $IBM

Berger Financial Group Inc trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM) by 10.9% during the first quarter, HoldingsChannel.com reports. The firm owned 35,157 shares of the technology company’s stock after selling 4,312 shares during the quarter. Berger Financial Group Inc’s holdings in International Business Machines were worth $8,522,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in IBM. Steigerwald Gordon & Koch Inc. boosted its stake in International Business Machines by 0.8% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 97,462 shares of the technology company’s stock worth $23,624,000 after purchasing an additional 791 shares during the period. Lee Danner & Bass Inc. grew its holdings in International Business Machines by 1.8% during the 1st quarter. Lee Danner & Bass Inc. now owns 12,741 shares of the technology company’s stock valued at $3,088,000 after buying an additional 226 shares in the last quarter. Retirement Financial Solutions LLC bought a new stake in shares of International Business Machines during the first quarter valued at about $299,000. NBT Bank N A NY increased its position in shares of International Business Machines by 16.9% during the first quarter. NBT Bank N A NY now owns 54,104 shares of the technology company’s stock valued at $13,114,000 after buying an additional 7,818 shares during the period. Finally, Howe & Rusling Inc. lifted its holdings in shares of International Business Machines by 23.5% in the first quarter. Howe & Rusling Inc. now owns 3,826 shares of the technology company’s stock worth $928,000 after buying an additional 727 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wolfe Research lowered shares of International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Piper Sandler upgraded shares of International Business Machines to an “overweight” rating in a research note on Tuesday, June 23rd. Barclays began coverage on shares of International Business Machines in a research note on Monday, June 1st. They issued an “overweight” rating and a $350.00 target price on the stock. Needham & Company LLC assumed coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. Finally, Weiss Ratings cut shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and an average price target of $306.76.

International Business Machines Stock Down 0.2%

Shares of NYSE:IBM opened at $288.95 on Friday. The firm has a market capitalization of $271.58 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $332.46. The firm has a fifty day moving average of $256.99 and a 200 day moving average of $266.36.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter last year, the business posted $1.60 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. International Business Machines’s dividend payout ratio is currently 59.77%.

About International Business Machines

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.