International Business Machines Co. (NYSE:IBM) Stock Position Reduced by Evanson Asset Management LLC

Evanson Asset Management LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.9% in the 4th quarter, Holdings Channel reports. The firm owned 1,832 shares of the technology company’s stock after selling 157 shares during the quarter. Evanson Asset Management LLC’s holdings in International Business Machines were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Cornerstone Planning Group LLC bought a new position in International Business Machines during the second quarter valued at about $28,000. Live Oak Investment Partners acquired a new stake in shares of International Business Machines during the 4th quarter valued at $30,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines during the 3rd quarter worth about $31,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of International Business Machines in the second quarter worth about $31,000. Finally, Stone House Investment Management LLC raised its position in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.1 %

IBM stock traded up $0.16 on Thursday, reaching $190.96. The company’s stock had a trading volume of 3,686,855 shares, compared to its average volume of 5,222,239. The business has a fifty day simple moving average of $186.79 and a two-hundred day simple moving average of $164.17. The firm has a market cap of $175.06 billion, a PE ratio of 23.52, a PEG ratio of 3.69 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share 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 for the quarter, compared to the consensus estimate of $17.29 billion. During the same quarter in the prior year, the business posted $3.60 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a $1.66 dividend. 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 payout ratio is 81.67%.

Analyst Ratings Changes

IBM has been the subject of a number of research reports. Stifel Nicolaus increased their price target on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Societe Generale reissued a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. Bank of America lifted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Royal Bank of Canada boosted their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.