WESPAC Advisors LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

WESPAC Advisors LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,165 shares of the technology company’s stock after selling 162 shares during the quarter. WESPAC Advisors LLC’s holdings in International Business Machines were worth $256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. JBR Co Financial Management Inc boosted its holdings in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 40 shares during the last quarter. Callan Capital LLC boosted its holdings in International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings 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 valued at $2,292,000 after purchasing an additional 45 shares during the last quarter. First Affirmative Financial Network boosted its holdings in International Business Machines by 1.5% in the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after purchasing an additional 46 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its holdings in International Business Machines by 2.0% in the fourth quarter. Waterfront Wealth Inc. now owns 2,393 shares of the technology company’s stock valued at $526,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on IBM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Jefferies Financial Group increased their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Down 1.1 %

IBM stock opened at $261.77 on Monday. The company has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.81 and a beta of 0.76. 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 Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The firm has a 50-day moving average of $235.27 and a two-hundred day moving average of $222.30.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. As a group, analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm 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 $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. International Business Machines’s payout ratio is 104.21%.

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.