International Business Machines Co. (NYSE:IBM) Shares Sold by Outfitter Financial LLC

Outfitter Financial LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,222 shares of the technology company’s stock after selling 50 shares during the period. Outfitter Financial LLC’s holdings in International Business Machines were worth $708,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its stake in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines during the 4th quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new stake in International Business Machines during the 3rd quarter valued at about $5,117,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

Shares of NYSE:IBM opened at $264.85 on Friday. The business’s 50 day moving average price is $234.65 and its 200-day moving average price is $221.26. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The firm has a market capitalization of $244.89 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 5.80 and a beta of 0.76. 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 posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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, equities research analysts forecast that International Business Machines Co. will post 10.77 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced 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. 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 2.52%. International Business Machines’s payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IBM. Bank of America raised their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Sanford C. Bernstein increased their price target on 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. Finally, Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $231.44.

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.