Exeter Financial LLC Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Exeter Financial LLC trimmed its stake in International Business Machines Co. (NYSE:IBM) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,831 shares of the technology company’s stock after selling 133 shares during the period. International Business Machines accounts for about 1.8% of Exeter Financial LLC’s investment portfolio, making the stock its 17th biggest holding. Exeter Financial LLC’s holdings in International Business Machines were worth $3,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Ellenbecker Investment Group grew its stake in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC boosted its stake in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares in the last quarter. Vertex Planning Partners LLC grew its holdings in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after purchasing an additional 47 shares during the last quarter. Forza Wealth Management LLC increased its position in shares of International Business Machines by 0.4% during the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 47 shares in the last quarter. Finally, Sollinda Capital Management LLC lifted its holdings in shares of International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on IBM. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Two 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 data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $214.88.

International Business Machines Stock Down 1.1 %

Shares of IBM stock opened at $217.39 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The stock has a 50 day moving average of $222.14 and a 200 day moving average of $209.84. The stock has a market cap of $201.01 billion, a P/E ratio of 31.64, a P/E/G ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.