Phoenix Wealth Advisors Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Phoenix Wealth Advisors lowered its position in International Business Machines Co. (NYSE:IBM) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,965 shares of the technology company’s stock after selling 75 shares during the period. Phoenix Wealth Advisors’ holdings in International Business Machines were worth $317,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. boosted its holdings in 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 acquiring an additional 54 shares in the last quarter. Avion Wealth raised its position in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares during the last quarter. Financial Security Advisor Inc. raised its position in shares of International Business Machines by 2.7% in the 4th 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. Cornerstone Wealth Group LLC raised its position in shares of International Business Machines by 3.6% in the 4th quarter. Cornerstone Wealth Group LLC now owns 1,734 shares of the technology company’s stock worth $284,000 after purchasing an additional 61 shares during the last quarter. Finally, Webster Bank N. A. raised its position in shares of International Business Machines by 0.9% in the 4th quarter. Webster Bank N. A. now owns 7,131 shares of the technology company’s stock worth $1,166,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.4 %

IBM stock traded up $2.50 during midday trading on Wednesday, reaching $183.75. The company’s stock had a trading volume of 4,473,654 shares, compared to its average volume of 3,265,758. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a fifty day simple moving average of $188.63 and a two-hundred day simple moving average of $168.44. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The firm has a market capitalization of $168.45 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 3.55 and a beta of 0.70.

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

International Business Machines Announces Dividend

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

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Royal Bank of Canada lifted their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Bank of America lifted their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. BMO Capital Markets lifted their price target on International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Finally, Societe Generale reissued a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $178.08.

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.