International Business Machines Co. (NYSE:IBM) is Estabrook Capital Management’s 6th Largest Position

Estabrook Capital Management decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 0.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,068 shares of the technology company’s stock after selling 314 shares during the quarter. International Business Machines makes up 2.5% of Estabrook Capital Management’s holdings, making the stock its 6th largest holding. Estabrook Capital Management’s holdings in International Business Machines were worth $16,282,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of IBM. Compass Financial Services Inc purchased a new position in International Business Machines in the 4th quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter worth about $31,000. 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. Valued Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in International Business Machines during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 2.5 %

NYSE IBM opened at $220.07 on Wednesday. The firm’s 50-day moving average is $251.20 and its two-hundred day moving average is $232.67. The stock has a market capitalization of $204.06 billion, a P/E ratio of 34.33, a PEG ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. 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 announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $231.13.

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.