Franklin Street Advisors Inc. NC Sells 6,930 Shares of International Business Machines Co. (NYSE:IBM)

Franklin Street Advisors Inc. NC decreased its position in International Business Machines Co. (NYSE:IBM) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,807 shares of the technology company’s stock after selling 6,930 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in International Business Machines were worth $13,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC purchased a new position in International Business Machines during the 3rd quarter valued at $29,000. Avondale Wealth Management boosted its stake in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines in the second quarter valued at approximately $36,000. Finally, Modus Advisors LLC purchased a new position in International Business Machines during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on IBM. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Bernstein Bank increased their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein upped their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, BMO Capital Markets raised their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $214.88.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $4.86 during midday trading on Friday, hitting $218.32. The company’s stock had a trading volume of 824,733 shares, compared to its average volume of 2,660,463. The company has a market cap of $201.87 billion, a P/E ratio of 31.78, a price-to-earnings-growth 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 Co. has a 12-month low of $160.29 and a 12-month high of $239.35. The business’s 50 day simple moving average is $221.70 and its 200 day simple moving average is $208.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. On average, analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

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.