Edge Capital Group LLC Reduces Stake in International Business Machines Co. (NYSE:IBM)

Edge Capital Group LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,124 shares of the technology company’s stock after selling 107 shares during the period. Edge Capital Group LLC’s holdings in International Business Machines were worth $5,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. JBR Co Financial Management Inc increased its position in shares of International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after purchasing an additional 40 shares in the last quarter. Callan Capital LLC increased its position in shares of International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after purchasing an additional 44 shares in the last quarter. Marks Group Wealth Management Inc increased its position in shares of International Business Machines by 0.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares in the last quarter. First Affirmative Financial Network increased its position in shares of International Business Machines by 1.5% during the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares in the last quarter. Finally, Waterfront Wealth Inc. increased its position in shares of International Business Machines by 2.0% in the 4th quarter. Waterfront Wealth Inc. now owns 2,393 shares of the technology company’s stock valued at $526,000 after acquiring an additional 46 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on IBM. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. upped their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Wedbush began coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 1.1 %

IBM stock opened at $261.77 on Monday. The company’s 50-day simple moving average is $235.27 and its 200-day simple moving average is $222.30. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The firm has a market cap of $242.05 billion, a P/E ratio of 40.84, a PEG ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.