Sound Income Strategies LLC Sells 14,212 Shares of International Business Machines Co. (NYSE:IBM)

Sound Income Strategies LLC lessened its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 12.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,280 shares of the technology company's stock after selling 14,212 shares during the quarter. International Business Machines comprises about 1.4% of Sound Income Strategies LLC's investment portfolio, making the stock its 15th largest holding. Sound Income Strategies LLC's holdings in International Business Machines were worth $19,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Clearbridge Investments LLC grew its stake in International Business Machines by 5.8% in the third quarter. Clearbridge Investments LLC now owns 34,406 shares of the technology company's stock valued at $4,827,000 after acquiring an additional 1,891 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of International Business Machines by 51.5% during the third quarter. Parkside Financial Bank & Trust now owns 4,540 shares of the technology company's stock worth $637,000 after buying an additional 1,543 shares during the period. Operose Advisors LLC boosted its position in shares of International Business Machines by 39.7% during the third quarter. Operose Advisors LLC now owns 6,709 shares of the technology company's stock worth $941,000 after buying an additional 1,905 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of International Business Machines by 18.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 138,941 shares of the technology company's stock worth $19,493,000 after buying an additional 21,886 shares during the period. Finally, O ROURKE & COMPANY Inc boosted its position in shares of International Business Machines by 0.9% during the third quarter. O ROURKE & COMPANY Inc now owns 11,855 shares of the technology company's stock worth $1,663,000 after buying an additional 107 shares during the period. Institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday. They set a "buy" rating and a $200.00 price objective for the company. Wedbush upped their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on International Business Machines from $190.00 to $185.00 and set a "neutral" rating for the company in a research report on Thursday, April 25th. Morgan Stanley reduced their price objective on International Business Machines from $186.00 to $179.00 and set an "equal weight" rating for the company in a research report on Friday, April 26th. Finally, BMO Capital Markets reduced their price target on International Business Machines from $210.00 to $190.00 and set a "market perform" rating for the company in a research report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has an average rating of "Hold" and an average target price of $182.53.

International Business Machines Price Performance

NYSE:IBM traded down $0.73 during trading hours on Wednesday, reaching $171.87. 2,676,716 shares of the company were exchanged, compared to its average volume of 4,583,372. The company has a market capitalization of $157.88 billion, a P/E ratio of 19.46, a P/E/G ratio of 4.26 and a beta of 0.72. International Business Machines Co. has a 1-year low of $130.83 and a 1-year high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The business has a 50 day moving average of $170.56 and a 200 day moving average of $176.40.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. Research analysts forecast that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines's previous quarterly dividend of $1.66. International Business Machines's dividend payout ratio (DPR) is currently 75.65%.

International Business Machines Company Profile

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.