Hourglass Capital LLC Sells 6,590 Shares of International Business Machines Co. (NYSE:IBM)

Hourglass Capital LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 21.9% in the fourth quarter, HoldingsChannel reports. The fund owned 23,510 shares of the technology company’s stock after selling 6,590 shares during the period. Hourglass Capital LLC’s holdings in International Business Machines were worth $5,168,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. JNBA Financial Advisors raised its holdings in International Business Machines by 11.6% during the 4th quarter. JNBA Financial Advisors now owns 508 shares of the technology company’s stock worth $112,000 after purchasing an additional 53 shares during the last quarter. Kuhn & Co Investment Counsel bought a new position in shares of International Business Machines in the 4th quarter valued at about $441,000. Sheaff Brock Investment Advisors LLC grew its position in shares of International Business Machines by 319.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 66,689 shares of the technology company’s stock worth $14,660,000 after buying an additional 50,777 shares during the period. Secured Retirement Advisors LLC lifted its holdings in International Business Machines by 413.1% in the fourth quarter. Secured Retirement Advisors LLC now owns 6,676 shares of the technology company’s stock valued at $1,468,000 after buying an additional 5,375 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in International Business Machines by 25.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 3,743 shares of the technology company’s stock valued at $823,000 after acquiring an additional 765 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.6 %

IBM stock opened at $260.65 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market capitalization of $241.01 billion, a P/E ratio of 40.66, a P/E/G ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The business has a 50-day moving average of $232.08 and a 200-day moving average of $219.25.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.56%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IBM. Bank of America increased their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Sanford C. Bernstein upped their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley lifted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Oppenheimer initiated coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $231.44.

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.