Financial Advisors LLC Sells 2,948 Shares of International Business Machines Co. (NYSE:IBM)

Financial Advisors LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 59.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,986 shares of the technology company’s stock after selling 2,948 shares during the quarter. Financial Advisors LLC’s holdings in International Business Machines were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IBM. Desjardins Global Asset Management Inc. increased its holdings in International Business Machines by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC boosted its stake in shares of International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after acquiring an additional 55 shares during the last quarter. Avion Wealth increased its position in shares of International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares in the last quarter. Northwest Capital Management Inc lifted its holdings in International Business Machines by 5.0% in the 4th quarter. Northwest Capital Management Inc now owns 1,230 shares of the technology company’s stock valued at $201,000 after purchasing an additional 59 shares in the last quarter. Finally, Financial Security Advisor Inc. grew its holdings in shares of International Business Machines by 2.7% during the fourth quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock worth $384,000 after buying an additional 61 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research note on Wednesday, April 17th. BMO Capital Markets reduced their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada upped their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $184.08.

International Business Machines Stock Down 1.1 %

Shares of IBM traded down $1.78 during midday trading on Friday, reaching $167.13. The stock had a trading volume of 8,983,796 shares, compared to its average volume of 3,906,041. The company has a market cap of $153.21 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 3.30 and a beta of 0.70. The company’s fifty day simple moving average is $187.60 and its two-hundred day simple moving average is $170.34. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period in the prior year, the firm posted $1.36 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Equities research analysts expect that International Business Machines Co. will post 9.99 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is 75.20%.

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.