Cyndeo Wealth Partners LLC Has $3.07 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Cyndeo Wealth Partners LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,978 shares of the technology company’s stock after selling 1,178 shares during the period. Cyndeo Wealth Partners LLC’s holdings in International Business Machines were worth $3,073,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IBM. Drucker Wealth 3.0 LLC acquired a new stake in International Business Machines in the 2nd quarter worth approximately $264,000. MBB Public Markets I LLC raised its position in shares of International Business Machines by 1,528.8% in the second quarter. MBB Public Markets I LLC now owns 65,233 shares of the technology company’s stock valued at $11,282,000 after purchasing an additional 61,228 shares during the period. Legal & General Group Plc lifted its stake in shares of International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares during the last quarter. Smith Thornton Advisors LLC bought a new stake in shares of International Business Machines during the 2nd quarter worth $702,000. Finally, Beaird Harris Wealth Management LLC grew its stake in International Business Machines by 67.0% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,236 shares of the technology company’s stock valued at $214,000 after buying an additional 496 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein upped their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Bank of America raised their target price on International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets upped their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $220.73.

International Business Machines Stock Down 0.6 %

Shares of NYSE IBM opened at $224.69 on Friday. The business has a fifty day moving average of $224.33 and a two-hundred day moving average of $212.32. 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 52-week low of $162.62 and a 52-week high of $239.35. The stock has a market cap of $207.75 billion, a PE ratio of 32.71, a PEG ratio of 4.78 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.