Evanson Asset Management LLC Trims Position in International Business Machines Co. (NYSE:IBM)

Evanson Asset Management LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,832 shares of the technology company’s stock after selling 157 shares during the period. Evanson Asset Management LLC’s holdings in International Business Machines were worth $300,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC purchased a new stake in shares of International Business Machines in the 2nd quarter worth $28,000. Live Oak Investment Partners bought a new position in International Business Machines during the 4th quarter worth about $30,000. Briaud Financial Planning Inc purchased a new position in International Business Machines during the 3rd quarter valued at about $31,000. PCA Investment Advisory Services Inc. bought a new stake in shares of International Business Machines in the 2nd quarter valued at about $31,000. Finally, Stone House Investment Management LLC lifted its position in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Jefferies Financial Group began coverage on International Business Machines in a research report on Friday, January 5th. They issued a “hold” rating and a $180.00 price target for the company. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and raised their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Stifel Nicolaus raised their price target on International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Finally, Bank of America raised their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $176.85.

International Business Machines Price Performance

International Business Machines stock traded up $0.16 during mid-day trading on Thursday, hitting $190.96. The company’s stock had a trading volume of 3,686,855 shares, compared to its average volume of 5,222,239. The stock has a market capitalization of $175.06 billion, a P/E ratio of 23.52, a P/E/G ratio of 3.69 and a beta of 0.70. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The stock’s fifty day moving average price is $186.79 and its two-hundred day moving average price is $164.17. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.07 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.48%. International Business Machines’s dividend payout ratio is 81.67%.

International Business Machines 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.