Wealthspire Advisors LLC Sells 1,000 Shares of International Business Machines Co. (NYSE:IBM)

Wealthspire Advisors LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,068 shares of the technology company’s stock after selling 1,000 shares during the period. Wealthspire Advisors LLC’s holdings in International Business Machines were worth $4,100,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Naples Money Management LLC bought a new position in International Business Machines in the 4th quarter worth about $28,000. Briaud Financial Planning Inc bought a new position in International Business Machines during the 3rd quarter valued at about $31,000. Stone House Investment Management LLC lifted its stake in International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the period. Financial Gravity Asset Management Inc. lifted its stake in International Business Machines by 67.9% during 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 during the period. Finally, Cordant Inc. lifted its stake in International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock traded up $1.52 during midday trading on Wednesday, hitting $169.90. The stock had a trading volume of 3,473,794 shares, compared to its average volume of 4,933,335. The firm’s fifty day moving average is $185.11 and its two-hundred day moving average is $171.88. The company has a market capitalization of $156.07 billion, a PE ratio of 19.24, a P/E/G ratio of 4.08 and a beta of 0.74. 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.

International Business Machines (NYSE:IBM) last released 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 company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period in the prior year, the firm posted $1.36 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts forecast that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IBM. Jefferies Financial Group lowered their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. BNP Paribas initiated coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. Royal Bank of Canada increased 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 note on Thursday, January 25th. Finally, BMO Capital Markets lowered their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $181.29.

International Business Machines 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.