Sunburst Financial Group LLC Sells 1,207 Shares of International Business Machines Co. (NYSE:IBM)

Sunburst Financial Group LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 18.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,495 shares of the technology company’s stock after selling 1,207 shares during the period. Sunburst Financial Group LLC’s holdings in International Business Machines were worth $1,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Compass Financial Services Inc acquired a new position in International Business Machines in the 4th quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. increased its stake in shares of 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 valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC bought a new position in shares of International Business Machines during the third quarter worth about $29,000. Avondale Wealth Management lifted its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC increased its position in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM opened at $259.07 on Friday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The company has a market cap of $239.55 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 5.57 and a beta of 0.76. The company’s fifty day moving average price is $231.15 and its two-hundred day moving average price is $218.49. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, analysts expect that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 yield of 2.58%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is 104.21%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of analyst reports. Wedbush initiated coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Bank of America upped their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Oppenheimer started coverage on International Business Machines in a research report on Tuesday. They issued an “outperform” rating and a $320.00 price objective for the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley lifted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $231.44.

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.