International Business Machines Co. (NYSE:IBM) Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 60.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,508 shares of the technology company’s stock after selling 5,438 shares during the quarter. Worth Asset Management LLC’s holdings in International Business Machines were worth $771,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. grew its position 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 purchasing an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in International Business Machines in the 3rd quarter valued at $29,000. Modus Advisors LLC acquired a new stake in shares of International Business Machines in the 4th quarter worth $40,000. Capital Performance Advisors LLP purchased a new position in shares of International Business Machines during the 3rd quarter worth $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.8 %

Shares of NYSE:IBM traded down $1.76 on Wednesday, hitting $222.20. 953,529 shares of the company’s stock were exchanged, compared to its average volume of 2,699,258. 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 1-year low of $159.51 and a 1-year high of $239.35. The company has a market capitalization of $205.46 billion, a PE ratio of 32.34, a P/E/G ratio of 5.18 and a beta of 0.74. The firm’s 50-day moving average is $221.01 and its 200 day moving average is $208.49.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IBM shares. Stifel Nicolaus lifted their target price 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. The Goldman Sachs Group upped their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets raised their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $214.88.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.07% of the company’s stock.

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.