Hourglass Capital LLC Sells 6,590 Shares of International Business Machines Co. (NYSE:IBM)

Hourglass Capital LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 21.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,510 shares of the technology company’s stock after selling 6,590 shares during the quarter. Hourglass Capital LLC’s holdings in International Business Machines were worth $5,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBM. JNBA Financial Advisors increased its stake in shares of International Business Machines by 11.6% in the fourth quarter. JNBA Financial Advisors now owns 508 shares of the technology company’s stock worth $112,000 after purchasing an additional 53 shares during the period. Kuhn & Co Investment Counsel acquired a new stake in International Business Machines in the 4th quarter valued at approximately $441,000. Sheaff Brock Investment Advisors LLC increased its position in International Business Machines by 319.1% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 66,689 shares of the technology company’s stock worth $14,660,000 after buying an additional 50,777 shares during the period. Secured Retirement Advisors LLC lifted its holdings in shares of International Business Machines by 413.1% during the fourth quarter. Secured Retirement Advisors LLC now owns 6,676 shares of the technology company’s stock worth $1,468,000 after buying an additional 5,375 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in shares of International Business Machines by 25.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 3,743 shares of the technology company’s stock valued at $823,000 after acquiring an additional 765 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.6 %

Shares of International Business Machines stock opened at $260.65 on Friday. The stock has a market capitalization of $241.01 billion, a P/E ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a 50-day simple moving average of $232.08 and a 200 day simple moving average of $219.25.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Research analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Finally, Wedbush started coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $231.44.

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.