Schrum Private Wealth Management LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Schrum Private Wealth Management LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 54.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,100 shares of the technology company’s stock after selling 1,316 shares during the period. Schrum Private Wealth Management LLC’s holdings in International Business Machines were worth $242,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its position in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines in the 4th quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines in the fourth quarter valued at approximately $373,000. Finally, Philip James Wealth Mangement LLC acquired a new position in International Business Machines during the third quarter worth $5,117,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on IBM. 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. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Jefferies Financial Group increased their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein upped their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $231.44.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Down 0.7 %

International Business Machines stock opened at $251.40 on Thursday. 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 1 year low of $162.62 and a 1 year high of $265.72. The firm’s 50-day moving average is $240.04 and its 200-day moving average is $225.58. The company has a market cap of $233.11 billion, a P/E ratio of 39.22, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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 dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.66%. International Business Machines’s dividend payout ratio (DPR) is 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.