Baer Investment Advisory LLC Lowers Holdings in International Business Machines Corporation $IBM

Baer Investment Advisory LLC reduced its position in International Business Machines Corporation (NYSE:IBM) by 69.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,314 shares of the technology company’s stock after selling 5,234 shares during the quarter. Baer Investment Advisory LLC’s holdings in International Business Machines were worth $561,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. Sivia Capital Partners LLC lifted its position in International Business Machines by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock valued at $571,000 after purchasing an additional 186 shares during the period. Jump Financial LLC purchased a new stake in International Business Machines in the 2nd quarter valued at approximately $211,000. Ieq Capital LLC boosted its holdings in International Business Machines by 2.2% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock valued at $11,383,000 after purchasing an additional 843 shares in the last quarter. Finally, Vivaldi Capital Management LP increased its position in International Business Machines by 11.6% during the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock worth $300,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on IBM shares. HSBC raised International Business Machines from a “reduce” rating to a “hold” rating and raised their price target for the company from $218.00 to $231.00 in a report on Tuesday, April 28th. Wall Street Zen raised International Business Machines from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Needham & Company LLC initiated coverage on International Business Machines in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. Royal Bank Of Canada restated an “outperform” rating on shares of International Business Machines in a research report on Tuesday, June 23rd. Finally, BMO Capital Markets cut their price target on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $306.76.

International Business Machines Stock Down 0.2%

IBM opened at $288.95 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The company has a market cap of $271.58 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46. The business’s fifty day moving average is $256.99 and its two-hundred day moving average is $266.36.

International Business Machines (NYSE:IBM) last announced 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. The business had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $1.60 earnings per share. Analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. 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.