International Business Machines Co. (NYSE:IBM) Shares Sold by Core Wealth Partners LLC

Core Wealth Partners LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 8.4% in the fourth quarter, Holdings Channel reports. The firm owned 7,163 shares of the technology company’s stock after selling 658 shares during the quarter. International Business Machines accounts for 0.9% of Core Wealth Partners LLC’s holdings, making the stock its 27th biggest holding. Core Wealth Partners LLC’s holdings in International Business Machines were worth $1,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JBR Co Financial Management Inc grew its position in shares of International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after acquiring an additional 40 shares in the last quarter. Schechter Investment Advisors LLC boosted its holdings in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 43 shares during the period. Callan Capital LLC increased its stake in International Business Machines by 2.4% during 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 raised its holdings in shares of International Business Machines by 0.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares during the period. Finally, Tower Wealth Partners Inc. lifted its position in shares of International Business Machines by 1.9% in the 4th quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock worth $522,000 after buying an additional 45 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBM. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Finally, Bank of America raised their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $231.44.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

International Business Machines Trading Up 0.6 %

International Business Machines stock opened at $250.01 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The stock has a market capitalization of $231.83 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The firm has a 50 day simple moving average of $248.04 and a 200-day simple moving average of $230.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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.