Balboa Wealth Partners Sells 169 Shares of International Business Machines Co. (NYSE:IBM)

Balboa Wealth Partners trimmed its stake in International Business Machines Co. (NYSE:IBM) by 7.0% during the fourth quarter, Holdings Channel reports. The fund owned 2,261 shares of the technology company’s stock after selling 169 shares during the quarter. Balboa Wealth Partners’ holdings in International Business Machines were worth $497,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lazard Freres Gestion S.A.S. boosted its holdings in shares of International Business Machines by 120.6% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 2,078 shares of the technology company’s stock worth $456,000 after buying an additional 1,136 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in International Business Machines by 4.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 210,514 shares of the technology company’s stock worth $46,366,000 after acquiring an additional 8,835 shares during the last quarter. Mascoma Wealth Management LLC boosted its holdings in International Business Machines by 11.6% during the fourth quarter. Mascoma Wealth Management LLC now owns 927 shares of the technology company’s stock valued at $204,000 after acquiring an additional 96 shares during the period. Rakuten Securities Inc. grew its position in shares of International Business Machines by 27.5% in the fourth quarter. Rakuten Securities Inc. now owns 732 shares of the technology company’s stock valued at $161,000 after purchasing an additional 158 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in shares of International Business Machines by 3.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 99,776 shares of the technology company’s stock worth $21,934,000 after purchasing an additional 3,245 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $245.67 on Friday. The stock has a market capitalization of $227.80 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The business’s fifty day moving average price is $243.72 and its two-hundred day moving average price is $227.70. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. 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 released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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 predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.72%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. 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. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $231.44.

About International Business Machines

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.