Deseret Mutual Benefit Administrators Has $2.07 Million Stake in International Business Machines Co. (NYSE:IBM)

Deseret Mutual Benefit Administrators cut its stake in International Business Machines Co. (NYSE:IBM) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,421 shares of the technology company’s stock after selling 1,885 shares during the quarter. International Business Machines accounts for about 1.0% of Deseret Mutual Benefit Administrators’ portfolio, making the stock its 12th biggest position. Deseret Mutual Benefit Administrators’ holdings in International Business Machines were worth $2,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. grew its position in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $373,000. Finally, Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the third quarter worth $5,117,000. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. UBS Group increased their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

NYSE:IBM opened at $261.77 on Friday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The business’s fifty day moving average is $235.27 and its 200 day moving average is $221.81. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.80 and a beta of 0.76.

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, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Research analysts predict that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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.