Kessler Investment Group LLC Reduces Stake in International Business Machines Co. (NYSE:IBM)

Kessler Investment Group LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,601 shares of the technology company’s stock after selling 486 shares during the period. International Business Machines accounts for approximately 0.9% of Kessler Investment Group LLC’s investment portfolio, making the stock its 26th largest holding. Kessler Investment Group LLC’s holdings in International Business Machines were worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Marks Group Wealth Management Inc grew its stake in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares in the last quarter. Ellenbecker Investment Group lifted its holdings in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the period. First Affirmative Financial Network lifted its holdings in 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 worth $687,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC lifted its holdings in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares during the period. Finally, Vertex Planning Partners LLC lifted its holdings in International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after buying an additional 47 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of analyst reports. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. UBS Group upped their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. BMO Capital Markets upped their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Oppenheimer assumed coverage on International Business Machines in a report on Tuesday. They set an “outperform” rating and a $320.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

Shares of IBM stock opened at $260.65 on Friday. The firm has a market capitalization of $241.01 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The business has a fifty day moving average of $231.63 and a 200 day moving average of $218.77. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.