Alpha Omega Wealth Management LLC Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Alpha Omega Wealth Management LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,544 shares of the technology company’s stock after selling 969 shares during the period. International Business Machines accounts for 1.9% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 7th biggest position. Alpha Omega Wealth Management LLC’s holdings in International Business Machines were worth $9,792,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ellenbecker Investment Group raised its position in International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of International Business Machines by 1.5% during the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC raised its holdings in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares in the last quarter. Vertex Planning Partners LLC lifted its stake in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after acquiring an additional 47 shares during the period. Finally, Forza Wealth Management LLC boosted its holdings in International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on IBM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Morgan Stanley lifted their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $225.53.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, 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. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $255.48 on Friday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $261.80. The company has a market capitalization of $236.23 billion, a P/E ratio of 39.86, a price-to-earnings-growth ratio of 4.25 and a beta of 0.74. The firm has a 50 day moving average of $226.61 and a 200 day moving average of $214.36. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 40.37% and a net margin of 9.60%. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.54 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

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.