Howard Capital Management Inc. Reduces Position in International Business Machines Co. (NYSE:IBM)

Howard Capital Management Inc. trimmed its position in International Business Machines Co. (NYSE:IBM) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,057 shares of the technology company’s stock after selling 979 shares during the quarter. Howard Capital Management Inc.’s holdings in International Business Machines were worth $1,332,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of IBM. Pettinga Financial Advisors LLC purchased a new stake in shares of International Business Machines in the 3rd quarter valued at $221,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of International Business Machines by 7.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 92,061 shares of the technology company’s stock valued at $20,331,000 after acquiring an additional 6,345 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new position in shares of International Business Machines during the 3rd quarter valued at about $214,000. Modera Wealth Management LLC raised its stake in shares of International Business Machines by 14.9% during the 3rd quarter. Modera Wealth Management LLC now owns 22,414 shares of the technology company’s stock valued at $4,955,000 after buying an additional 2,915 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of International Business Machines by 7.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,351,453 shares of the technology company’s stock valued at $298,136,000 after buying an additional 98,516 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.1 %

Shares of International Business Machines stock opened at $261.77 on Monday. The firm has a market capitalization of $242.05 billion, a PE ratio of 40.84, a P/E/G ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The firm’s 50-day moving average price is $235.27 and its 200 day moving average price is $222.30. 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 issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. On average, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS 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. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio is presently 104.21%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IBM. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Morgan Stanley upped their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Bank of America lifted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Two 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $231.44.

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.