Covestor Ltd Sells 122 Shares of International Business Machines Co. (NYSE:IBM)

Covestor Ltd trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,152 shares of the technology company’s stock after selling 122 shares during the period. Covestor Ltd’s holdings in International Business Machines were worth $254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Financial Services Inc acquired a new position in International Business Machines in the 4th quarter valued at $26,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Avondale Wealth Management lifted 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 worth $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC grew its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in International Business Machines in the 4th quarter worth approximately $35,000. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. UBS Group upped their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Finally, BMO Capital Markets lifted their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $231.13.

International Business Machines Trading Down 2.3 %

IBM stock traded down $5.34 during trading on Thursday, hitting $229.97. The company had a trading volume of 1,073,909 shares, compared to its average volume of 4,187,609. The stock has a market cap of $213.24 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 5.81 and a beta of 0.67. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average price of $250.35 and a 200-day moving average price of $232.80. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity

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 in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.