Tufton Capital Management Sells 249 Shares of International Business Machines Co. (NYSE:IBM)

Tufton Capital Management cut its holdings in International Business Machines Co. (NYSE:IBM) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,741 shares of the technology company’s stock after selling 249 shares during the period. Tufton Capital Management’s holdings in International Business Machines were worth $6,098,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IBM. JBR Co Financial Management Inc boosted its holdings in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after purchasing an additional 40 shares during the last quarter. Callan Capital LLC boosted its holdings in International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after purchasing an additional 44 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares during the last quarter. First Affirmative Financial Network boosted its holdings in International Business Machines by 1.5% in the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its holdings in International Business Machines by 2.0% in the fourth quarter. Waterfront Wealth Inc. now owns 2,393 shares of the technology company’s stock worth $526,000 after purchasing an additional 46 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday. Sanford C. Bernstein increased 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. Bank of America increased their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Down 1.0 %

Shares of IBM stock opened at $253.24 on Friday. The company has a market capitalization of $234.16 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. 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’s fifty day moving average price is $237.78 and its 200-day moving average price is $223.69.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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 dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.64%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.