Heartwood Wealth Advisors LLC Sells 863 Shares of International Business Machines Corporation (NYSE:IBM)

Heartwood Wealth Advisors LLC lessened its holdings in International Business Machines Corporation (NYSE:IBM) by 14.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,050 shares of the technology company’s stock after selling 863 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in International Business Machines were worth $1,256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of IBM. Vision Financial Markets LLC bought a new position in International Business Machines in the 4th quarter valued at $31,000. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth $35,000. Tacita Capital Inc lifted its holdings in shares of International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after buying an additional 122 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.0%

International Business Machines stock opened at $283.15 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $286.91. The business’s 50-day moving average price is $255.73 and its 200 day moving average price is $244.81. The firm has a market cap of $263.16 billion, a price-to-earnings ratio of 48.74, a price-to-earnings-growth ratio of 5.94 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the business posted $1.68 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.37%. International Business Machines’s payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IBM. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Morgan Stanley decreased their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada upped their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $252.19.

About International Business Machines

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.