International Business Machines Co. (NYSE:IBM) Shares Sold by Latitude Advisors LLC

Latitude Advisors LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 9.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,598 shares of the technology company’s stock after selling 174 shares during the period. Latitude Advisors LLC’s holdings in International Business Machines were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC acquired a new position in International Business Machines in the second quarter valued at $28,000. Live Oak Investment Partners purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $30,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines in the third quarter valued at about $31,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of International Business Machines in the second quarter valued at about $31,000. Finally, Stone House Investment Management LLC raised its holdings in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IBM shares. BMO Capital Markets upped their target price on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Stifel Nicolaus increased their price target on shares of International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Societe Generale reissued a “sell” rating and set a $143.00 price target on shares of International Business Machines in a report on Friday, January 5th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $178.08.

International Business Machines Price Performance

International Business Machines stock traded up $2.50 during mid-day trading on Wednesday, reaching $183.75. The company had a trading volume of 4,473,654 shares, compared to its average volume of 3,265,758. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market capitalization of $168.45 billion, a P/E ratio of 22.60, a P/E/G ratio of 3.55 and a beta of 0.70. The stock’s 50-day simple moving average is $188.63 and its 200-day simple moving average is $168.44.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.78 by $0.09. The business had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.60 earnings per share. On average, equities analysts predict that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.61%. International Business Machines’s dividend payout ratio is presently 81.67%.

International Business Machines Company 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.