International Business Machines Co. (NYSE:IBM) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 6.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,698 shares of the technology company’s stock after selling 1,146 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in International Business Machines were worth $3,671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines during the 4th quarter worth $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines during the 4th quarter worth $373,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines during the 3rd quarter worth $5,117,000. Finally, Nordea Investment Management AB boosted its stake in International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Morgan Stanley boosted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Finally, Bank of America boosted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Up 0.6 %

Shares of NYSE:IBM 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 firm has a market capitalization of $241.01 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The firm’s 50-day moving average is $232.08 and its two-hundred day moving average is $219.25. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts predict that International Business Machines Co. will post 10.75 EPS for the current 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 paid a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.56%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

International Business Machines 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.