Marotta Asset Management Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

Marotta Asset Management trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.2% in the fourth quarter, Holdings Channel reports. The fund owned 1,557 shares of the technology company’s stock after selling 103 shares during the period. Marotta Asset Management’s holdings in International Business Machines were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ellenbecker Investment Group lifted its stake in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after acquiring an additional 46 shares during the period. Goldstein Advisors LLC lifted its position in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the period. Vertex Planning Partners LLC boosted its holdings in International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after purchasing an additional 47 shares in the last quarter. Sollinda Capital Management LLC increased its position in International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after purchasing an additional 49 shares during the period. Finally, Lansing Street Advisors raised its stake in shares of International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after buying an additional 49 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.4 %

NYSE:IBM traded down $3.23 during trading hours on Friday, hitting $219.95. The stock had a trading volume of 356,821 shares, compared to its average volume of 2,574,384. The business has a 50 day simple moving average of $221.70 and a two-hundred day simple moving average of $208.69. International Business Machines Co. has a 1-year low of $160.29 and a 1-year high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a market cap of $203.38 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. Analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.04%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Bernstein Bank upped their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company 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 issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $214.88.

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.