Searle & CO. Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Searle & CO. trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 5.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,103 shares of the technology company’s stock after selling 1,338 shares during the quarter. International Business Machines comprises 1.0% of Searle & CO.’s holdings, making the stock its 27th biggest holding. Searle & CO.’s holdings in International Business Machines were worth $3,615,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Naples Money Management LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines in the third quarter worth $31,000. Stone House Investment Management LLC grew its position in International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. raised its holdings in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares in the last quarter. Finally, Cordant Inc. grew its holdings in shares of International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 1.1 %

Shares of IBM traded down $1.77 during mid-day trading on Wednesday, hitting $164.43. The company’s stock had a trading volume of 4,028,068 shares, compared to its average volume of 5,011,467. The company’s 50-day moving average is $186.85 and its 200-day moving average is $170.91. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $150.74 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 4.10 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter last year, the company posted $1.36 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that International Business Machines Co. will post 9.98 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $1.67 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.06%. International Business Machines’s dividend payout ratio is presently 75.20%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and raised their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Societe Generale reiterated a “sell” rating and set a $143.00 price target on shares of International Business Machines in a report on Friday, January 5th. JPMorgan Chase & Co. cut their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein increased their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Finally, Morgan Stanley dropped their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $184.08.

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.