International Business Machines Co. (NYSE:IBM) Position Cut by Choreo LLC

Choreo LLC trimmed its stake in International Business Machines Co. (NYSE:IBM) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,958 shares of the technology company’s stock after selling 1,703 shares during the quarter. Choreo LLC’s holdings in International Business Machines were worth $10,769,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its stake in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in shares of International Business Machines during the third quarter valued at about $29,000. Avondale Wealth Management raised its stake in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its stake in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at about $40,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBM. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein boosted 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 research report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. BMO Capital Markets boosted 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 report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $225.53.

International Business Machines Stock Up 1.4 %

IBM opened at $264.30 on Wednesday. The business has a 50 day moving average price of $228.01 and a 200 day moving average price of $215.86. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.25. 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 $244.38 billion, a P/E ratio of 41.23, a price-to-earnings-growth ratio of 5.63 and a beta of 0.76.

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, topping 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 forecast that International Business Machines Co. will post 10.73 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared 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. 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 dividend payout ratio (DPR) is presently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

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.