Northcape Wealth Management LLC Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Northcape Wealth Management LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,934 shares of the technology company’s stock after selling 169 shares during the period. Northcape Wealth Management LLC’s holdings in International Business Machines were worth $2,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Desjardins Global Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares in the last quarter. Calamos Wealth Management LLC boosted its stake in shares of International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares during the period. Avion Wealth boosted its stake in shares of International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after buying an additional 56 shares during the period. Northwest Capital Management Inc lifted its stake in International Business Machines by 5.0% during the fourth quarter. Northwest Capital Management Inc now owns 1,230 shares of the technology company’s stock worth $201,000 after purchasing an additional 59 shares during the last quarter. Finally, Financial Security Advisor Inc. lifted its stake in International Business Machines by 2.7% during the fourth quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock worth $384,000 after purchasing an additional 61 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Jefferies Financial Group lowered their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Wedbush increased their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Finally, UBS Group raised their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $184.08.

International Business Machines Trading Down 0.7 %

Shares of NYSE IBM traded down $1.24 during trading on Tuesday, hitting $166.19. 6,010,206 shares of the company were exchanged, compared to its average volume of 5,023,267. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The company has a fifty day moving average price of $187.19 and a 200-day moving average price of $170.72. The firm has a market capitalization of $152.35 billion, a PE ratio of 18.82, a P/E/G ratio of 4.08 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, equities research analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $1.67 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.02%. International Business Machines’s dividend payout ratio is 75.20%.

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.