Everett Harris & Co. CA Cuts Position in International Business Machines Co. (NYSE:IBM)

Everett Harris & Co. CA cut its stake in International Business Machines Co. (NYSE:IBM) by 7.3% during the fourth quarter, HoldingsChannel reports. The fund owned 3,707 shares of the technology company’s stock after selling 290 shares during the quarter. Everett Harris & Co. CA’s holdings in International Business Machines were worth $606,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of International Business Machines by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after purchasing an additional 365,388 shares in the last quarter. State Street Corp boosted its position in shares of International Business Machines by 1.7% in the 2nd quarter. State Street Corp now owns 54,441,615 shares of the technology company’s stock worth $7,284,833,000 after purchasing an additional 903,042 shares in the last quarter. Morgan Stanley boosted its position in shares of International Business Machines by 22.8% in the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after purchasing an additional 3,084,458 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of International Business Machines by 7.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after purchasing an additional 1,105,170 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of International Business Machines by 98,797.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after purchasing an additional 11,017,849 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $0.16 on Thursday, hitting $190.96. The company’s stock had a trading volume of 3,686,855 shares, compared to its average volume of 5,222,239. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The firm has a fifty day moving average price of $186.79 and a 200-day moving average price of $164.17. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market capitalization of $175.06 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 3.69 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company had revenue of $17.38 billion during the quarter, compared to analyst estimates of $17.29 billion. During the same period in the previous year, the business earned $3.60 EPS. International Business Machines’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.07 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.48%. International Business Machines’s dividend payout ratio (DPR) is currently 81.67%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their price objective on International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Bank of America lifted their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Societe Generale reaffirmed a “sell” rating and set a $143.00 price target on shares of International Business Machines in a research report on Friday, January 5th. Finally, Jefferies Financial Group assumed coverage on International Business Machines in a research report on Friday, January 5th. They set a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $176.85.

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.