Spire Wealth Management Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Spire Wealth Management decreased its position in International Business Machines Co. (NYSE:IBM – Get Rating) by 34.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,475 shares of the technology company’s stock after selling 11,819 shares during the period. Spire Wealth Management’s holdings in International Business Machines were worth $2,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IBM. Duff & Phelps Investment Management Co. boosted its stake in International Business Machines by 0.8% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 9,330 shares of the technology company’s stock worth $1,247,000 after buying an additional 76 shares during the last quarter. Rossmore Private Capital boosted its stake in International Business Machines by 1.2% during the fourth quarter. Rossmore Private Capital now owns 6,418 shares of the technology company’s stock worth $858,000 after buying an additional 78 shares during the last quarter. Twin Capital Management Inc. boosted its stake in International Business Machines by 1.7% during the fourth quarter. Twin Capital Management Inc. now owns 4,909 shares of the technology company’s stock worth $656,000 after buying an additional 80 shares during the last quarter. Keel Point LLC boosted its stake in International Business Machines by 2.4% during the fourth quarter. Keel Point LLC now owns 3,505 shares of the technology company’s stock worth $468,000 after buying an additional 83 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in International Business Machines by 4.4% during the first quarter. Rosenberg Matthew Hamilton now owns 1,973 shares of the technology company’s stock worth $257,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 55.22% of the company’s stock.

A number of equities analysts have weighed in on the company. StockNews.com assumed coverage on International Business Machines in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Bank of America upped their price target on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, April 20th. BMO Capital Markets upped their price target on International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a research note on Wednesday, April 20th. Morgan Stanley upped their price target on International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Finally, Tigress Financial upped their price target on International Business Machines from $133.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $147.25.

In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the sale, the insider now owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.04% of the stock is owned by corporate insiders.

IBM stock opened at $142.80 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 2.44. The company has a market capitalization of $128.44 billion, a PE ratio of 23.41, a P/E/G ratio of 1.59 and a beta of 1.00. International Business Machines Co. has a 12-month low of $114.56 and a 12-month high of $147.50. The business’s fifty day moving average price is $136.25 and its 200 day moving average price is $132.07.

International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings results on Tuesday, April 19th. The technology company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $13.84 billion. During the same quarter in the prior year, the business earned $1.77 EPS. International Business Machines’s revenue was up 7.7% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 9.89 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th were issued a dividend of $1.65 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.64. The ex-dividend date was Monday, May 9th. This represents a $6.60 annualized dividend and a yield of 4.62%. International Business Machines’s dividend payout ratio is 108.20%.

International Business Machines Company Profile (Get Rating)

International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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