International Business Machines Co. (NYSE:IBM) Shares Sold by Fingerlakes Wealth Management Inc.

Fingerlakes Wealth Management Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,154 shares of the technology company’s stock after selling 137 shares during the period. Fingerlakes Wealth Management Inc.’s holdings in International Business Machines were worth $254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Marks Group Wealth Management Inc raised its holdings in shares of International Business Machines by 0.4% in the 4th 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 in the last quarter. First Affirmative Financial Network grew its position 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 buying an additional 46 shares during the last quarter. Goldstein Advisors LLC increased its holdings in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after buying an additional 47 shares in the last quarter. Vertex Planning Partners LLC lifted its position in shares of International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after acquiring an additional 47 shares during the last quarter. Finally, Forza Wealth Management LLC boosted its stake in shares of International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after acquiring an additional 47 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.3 %

NYSE:IBM opened at $263.98 on Thursday. The company has a market capitalization of $244.08 billion, a P/E ratio of 41.18, a P/E/G ratio of 5.73 and a beta of 0.76. The stock’s 50 day moving average price is $234.00 and its 200 day moving average price is $220.96. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72.

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%. On average, research analysts forecast that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. 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 is currently 104.21%.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Morgan Stanley upped their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Jefferies Financial Group lifted 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. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus 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.