Deseret Mutual Benefit Administrators Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Deseret Mutual Benefit Administrators reduced its stake in International Business Machines Co. (NYSE:IBM) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,421 shares of the technology company’s stock after selling 1,885 shares during the quarter. International Business Machines comprises approximately 1.0% of Deseret Mutual Benefit Administrators’ portfolio, making the stock its 12th biggest holding. Deseret Mutual Benefit Administrators’ holdings in International Business Machines were worth $2,071,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Meeder Asset Management Inc. raised its position in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines in the fourth quarter valued at $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in International Business Machines during the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in International Business Machines during the fourth quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth about $5,117,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 1.1 %

IBM opened at $261.77 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. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The firm has a market capitalization of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.80 and a beta of 0.76. The business has a 50 day simple moving average of $235.27 and a two-hundred day simple moving average of $221.81.

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, beating the consensus estimate 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 10.77 EPS for the current 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 given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IBM shares. Jefferies Financial Group raised their price objective on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Sanford C. Bernstein lifted their price target 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. 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 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $231.44.

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.