International Business Machines Co. (NYSE:IBM) Shares Sold by PDS Planning Inc

PDS Planning Inc lowered its holdings in International Business Machines Co. (NYSE:IBM) by 5.8% during the fourth quarter, Holdings Channel reports. The fund owned 3,704 shares of the technology company’s stock after selling 229 shares during the quarter. PDS Planning Inc’s holdings in International Business Machines were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Naples Money Management LLC acquired a new stake in International Business Machines during the fourth quarter valued at $28,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines during the third quarter valued at $31,000. Stone House Investment Management LLC grew 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. Financial Gravity Asset Management Inc. grew its position in shares of International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares during the period. Finally, Cordant Inc. grew its position in shares of International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IBM. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Societe Generale reissued a “sell” rating and issued a $143.00 price target on shares of International Business Machines in a research note on Friday, January 5th. Bank of America raised 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 note on Thursday, March 14th. UBS Group lifted their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday. Finally, Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $177.23.

International Business Machines Stock Performance

International Business Machines stock traded up $2.01 during trading hours on Tuesday, reaching $183.91. 1,134,612 shares of the stock were exchanged, compared to its average volume of 4,710,886. The stock has a market cap of $168.60 billion, a P/E ratio of 22.64, a P/E/G ratio of 3.57 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 52-week low of $120.55 and a 52-week high of $199.18. The firm’s 50 day moving average is $188.38 and its 200 day moving average is $169.59.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The firm had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.60 EPS. Analysts predict that International Business Machines Co. will post 10.04 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.61%. International Business Machines’s dividend payout ratio is currently 81.67%.

International Business Machines Company 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.