Morgan Dempsey Capital Management LLC Has $6.43 Million Stake in International Business Machines Corporation $IBM

Morgan Dempsey Capital Management LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 9.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,710 shares of the technology company’s stock after selling 2,387 shares during the period. International Business Machines accounts for approximately 3.1% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Morgan Dempsey Capital Management LLC’s holdings in International Business Machines were worth $6,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Basepoint Wealth LLC acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $25,000. Family CFO Inc acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $25,000. Joseph Group Capital Management acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $28,000. Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $28,000. Finally, SWAN Capital LLC acquired a new position in shares of International Business Machines during the third quarter worth approximately $28,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IBM. JPMorgan Chase & Co. reduced their price objective on International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Citigroup boosted their price objective on International Business Machines from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Roth Mkm restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group cut their target price on International Business Machines from $370.00 to $320.00 and set a “buy” rating for the company in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.17.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $271.77 on Monday. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46. The stock has a fifty day moving average of $250.02 and a 200-day moving average of $270.10. The company has a market capitalization of $255.43 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.66. 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 (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS 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 company had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts anticipate that International Business Machines Corporation will post 12.38 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.5%. International Business Machines’s payout ratio is currently 59.77%.

International Business Machines 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.