International Business Machines Co. (NYSE:IBM) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,793 shares of the technology company’s stock after selling 83 shares during the period. Fortitude Family Office LLC’s holdings in International Business Machines were worth $1,273,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. raised its holdings in 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 worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines during the 3rd quarter worth $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the second quarter valued at $36,000. Modus Advisors LLC acquired a new position in International Business Machines in the fourth quarter valued at $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of International Business Machines during the third quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IBM. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Bank of America upped their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $214.88.

International Business Machines Stock Down 0.4 %

Shares of NYSE IBM opened at $223.15 on Friday. The stock has a market capitalization of $206.33 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 52 week low of $159.51 and a 52 week high of $239.35. The firm has a 50-day moving average price of $221.70 and a 200 day moving average price of $208.69. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In other 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 transaction of $774,720.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.