Cedrus LLC Sells 517 Shares of International Business Machines Co. (NYSE:IBM)

Cedrus LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,581 shares of the technology company’s stock after selling 517 shares during the quarter. Cedrus LLC’s holdings in International Business Machines were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IBM. GHP Investment Advisors Inc. lifted its holdings in shares of International Business Machines by 2.8% in the fourth quarter. GHP Investment Advisors Inc. now owns 74,963 shares of the technology company’s stock worth $12,260,000 after buying an additional 2,049 shares in the last quarter. Aspiriant LLC lifted its holdings in shares of International Business Machines by 8.9% in the fourth quarter. Aspiriant LLC now owns 6,327 shares of the technology company’s stock worth $1,035,000 after buying an additional 518 shares in the last quarter. Advisors Management Group Inc. ADV lifted its holdings in shares of International Business Machines by 2.0% in the fourth quarter. Advisors Management Group Inc. ADV now owns 47,215 shares of the technology company’s stock worth $7,722,000 after buying an additional 939 shares in the last quarter. Cherry Creek Investment Advisors Inc. lifted its holdings in shares of International Business Machines by 1.0% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 41,602 shares of the technology company’s stock worth $6,804,000 after buying an additional 412 shares in the last quarter. Finally, Charter Oak Capital Management LLC lifted its holdings in shares of International Business Machines by 6.2% in the fourth quarter. Charter Oak Capital Management LLC now owns 1,721 shares of the technology company’s stock worth $282,000 after buying an additional 100 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on IBM. Royal Bank of Canada increased their price target on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group began coverage on shares of International Business Machines in a research report on Friday, January 5th. They set a “hold” rating and a $180.00 price target on the stock. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America increased their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Stifel Nicolaus raised their target price on shares of International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $176.85.

International Business Machines Stock Down 0.1 %

Shares of IBM stock opened at $185.90 on Friday. The stock has a 50 day moving average of $188.73 and a 200 day moving average of $167.26. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market cap of $170.42 billion, a P/E ratio of 22.87, a P/E/G ratio of 3.65 and a beta of 0.70. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18.

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

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

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.