Pinnacle Wealth Management Advisory Group LLC Trims Position in International Business Machines Co. (NYSE:IBM)

Pinnacle Wealth Management Advisory Group LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,698 shares of the technology company’s stock after selling 1,146 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in International Business Machines were worth $3,671,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the period. FMR LLC grew its holdings in International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares in the last quarter. Swiss National Bank grew its holdings in International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after acquiring an additional 12,400 shares in the last quarter. International Assets Investment Management LLC grew its holdings in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in International Business Machines during the 3rd quarter worth about $573,306,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $260.65 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a market cap of $241.01 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The company has a 50 day moving average price of $232.08 and a 200-day moving average price of $219.25. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. Equities research analysts forecast that International Business Machines Co. will post 10.75 EPS for the current year.

International Business Machines Announces Dividend

The company 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 of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Wedbush initiated coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.