Spectrum Wealth Counsel LLC Has $244,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Spectrum Wealth Counsel LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 17.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,112 shares of the technology company’s stock after selling 240 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in International Business Machines were worth $244,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Pettinga Financial Advisors LLC bought a new position in International Business Machines during the 3rd quarter worth approximately $221,000. Congress Asset Management Co. bought a new position in International Business Machines during the 3rd quarter worth approximately $11,809,000. Baron Silver Stevens Financial Advisors LLC bought a new position in International Business Machines during the 3rd quarter worth approximately $267,000. Summit Wealth Partners LLC raised its holdings in International Business Machines by 5.5% during the 3rd quarter. Summit Wealth Partners LLC now owns 1,934 shares of the technology company’s stock worth $428,000 after purchasing an additional 101 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in International Business Machines by 4.5% during the 3rd quarter. Stephens Inc. AR now owns 70,695 shares of the technology company’s stock worth $15,629,000 after purchasing an additional 3,075 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM opened at $252.63 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 company has a market capitalization of $234.25 billion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 5.81 and a beta of 0.76. The firm’s fifty day moving average price is $238.37 and its two-hundred day moving average price is $224.13. 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 quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is 104.21%.

Analyst Upgrades and Downgrades

IBM has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. BMO Capital Markets lifted 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 note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective 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, UBS Group lifted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.