Magnus Financial Group LLC Sells 53 Shares of International Business Machines Co. (NYSE:IBM)

Magnus Financial Group LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,761 shares of the technology company’s stock after selling 53 shares during the period. Magnus Financial Group LLC’s holdings in International Business Machines were worth $607,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. increased its position in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter valued at $29,000. Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of International Business Machines during the 4th quarter worth $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of International Business Machines in the 3rd quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.5 %

Shares of International Business Machines stock opened at $223.09 on Thursday. The company’s 50-day moving average price is $223.36 and its 200-day moving average price is $211.82. The company has a market cap of $206.28 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 4.80 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month 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.

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

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.99%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IBM. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Bank of America lifted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Morgan Stanley boosted their target price on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $216.87.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.