Brooks Moore & Associates Inc. Has $2.44 Million Holdings in International Business Machines Co. (NYSE:IBM)

Brooks Moore & Associates Inc. decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,080 shares of the technology company’s stock after selling 2,120 shares during the quarter. International Business Machines accounts for approximately 1.4% of Brooks Moore & Associates Inc.’s investment portfolio, making the stock its 29th largest position. Brooks Moore & Associates Inc.’s holdings in International Business Machines were worth $2,436,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in International Business Machines in the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at $31,000. Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $35,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. UBS Group reissued a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their target price 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, KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $248.50.

International Business Machines Stock Up 1.5 %

IBM stock opened at $249.22 on Tuesday. The stock’s 50 day simple moving average is $243.06 and its 200 day simple moving average is $234.27. The company has a market cap of $231.62 billion, a P/E ratio of 38.88, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. 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 fifty-two week low of $163.53 and a fifty-two week high of $266.45.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $1.68 EPS. On average, research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.70%. International Business Machines’s dividend payout ratio is presently 115.66%.

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.