International Business Machines Co. (NYSE:IBM) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its stake in International Business Machines Co. (NYSE:IBM) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,995 shares of the technology company’s stock after selling 154 shares during the quarter. Wealth Alliance’s holdings in International Business Machines were worth $1,318,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IBM. Trilogy Capital Inc. acquired a new position in shares of International Business Machines in the 3rd quarter worth $203,000. Foundations Investment Advisors LLC grew its holdings in shares of International Business Machines by 5.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 30,301 shares of the technology company’s stock worth $6,699,000 after acquiring an additional 1,626 shares during the last quarter. Calton & Associates Inc. acquired a new stake in shares of International Business Machines in the third quarter worth $237,000. Eastern Bank boosted its position in shares of International Business Machines by 1,392.9% in the third quarter. Eastern Bank now owns 22,453 shares of the technology company’s stock worth $4,964,000 after buying an additional 20,949 shares during the period. Finally, BLB&B Advisors LLC boosted its position in shares of International Business Machines by 0.9% in the third quarter. BLB&B Advisors LLC now owns 23,929 shares of the technology company’s stock worth $5,290,000 after buying an additional 222 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $263.98 on Thursday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The business has a 50-day moving average of $234.00 and a two-hundred day moving average of $220.96. The stock has a market capitalization of $244.08 billion, a P/E ratio of 41.18, a P/E/G ratio of 5.73 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities research analysts predict that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.53%. International Business Machines’s payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IBM. Jefferies Financial Group raised their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. BMO Capital Markets raised their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.