International Business Machines Co. (NYSE:IBM) Position Decreased by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,638 shares of the technology company’s stock after selling 58 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in International Business Machines were worth $360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its position in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines during the second quarter valued at $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $5,117,000. Nordea Investment Management AB increased its stake in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in International Business Machines during the 3rd quarter worth about $24,761,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on IBM shares. Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $214.88.

International Business Machines Trading Down 1.7 %

International Business Machines stock opened at $219.40 on Friday. The business’s 50-day simple moving average is $221.92 and its 200-day simple moving average is $209.00. International Business Machines Co. has a 52 week low of $160.29 and a 52 week high of $239.35. The firm has a market capitalization of $202.87 billion, a PE ratio of 31.94, a PEG ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. Equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.04%. International Business Machines’s payout ratio is 97.23%.

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.