Portside Wealth Group LLC Has $2.82 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Portside Wealth Group LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,747 shares of the technology company’s stock after selling 160 shares during the period. Portside Wealth Group LLC’s holdings in International Business Machines were worth $2,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ellenbecker Investment Group boosted its position in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC lifted its stake in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares during the period. Vertex Planning Partners LLC boosted its holdings in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after acquiring an additional 47 shares during the last quarter. Forza Wealth Management LLC increased its position in International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 47 shares during the period. Finally, Sollinda Capital Management LLC lifted 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 valued at $301,000 after purchasing an additional 49 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IBM shares. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BMO Capital Markets upped their target price 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. Sanford C. Bernstein raised their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Bank of America upped their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Two 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $215.81.

International Business Machines Stock Up 0.9 %

International Business Machines stock opened at $224.73 on Friday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a 50 day moving average of $222.87 and a 200-day moving average of $210.66. The stock has a market capitalization of $207.80 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. On average, equities research analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

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.