W.G. Shaheen & Associates DBA Whitney & Co Cuts Position in International Business Machines Co. (NYSE:IBM)

W.G. Shaheen & Associates DBA Whitney & Co lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 11.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,582 shares of the technology company’s stock after selling 476 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in International Business Machines were worth $788,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Meeder Asset Management Inc. raised its stake in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines in the 4th quarter valued at $242,000. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines in the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines during the fourth quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines in the third quarter worth about $5,117,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $261.77 on Monday. The business has a 50 day simple moving average of $235.27 and a 200-day simple moving average of $222.30. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The company has a market capitalization of $242.05 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth 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 (NYSE:IBM) last issued 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%. As a group, equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced 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 is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. International Business Machines’s dividend payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Finally, Bank of America upped their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $231.44.

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.