Corrado Advisors LLC Decreases Position in International Business Machines Co. (NYSE:IBM)

Corrado Advisors LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,860 shares of the technology company’s stock after selling 1,994 shares during the period. International Business Machines accounts for 1.6% of Corrado Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Corrado Advisors LLC’s holdings in International Business Machines were worth $2,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. JBR Co Financial Management Inc boosted its stake in 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 acquiring an additional 40 shares in the last quarter. Callan Capital LLC boosted its stake in 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 acquiring an additional 44 shares in the last quarter. Marks Group Wealth Management Inc boosted its stake in 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 acquiring an additional 45 shares in the last quarter. First Affirmative Financial Network boosted its stake in 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 acquiring an additional 46 shares in the last quarter. Finally, Waterfront Wealth Inc. boosted its stake in International Business Machines by 2.0% during the fourth quarter. Waterfront Wealth Inc. now owns 2,393 shares of the technology company’s stock worth $526,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IBM. Morgan Stanley upped their target price 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. Sanford C. Bernstein upped 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. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Finally, Oppenheimer began 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 on the stock. 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 MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Down 0.8 %

IBM opened at $255.62 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a 50 day moving average price of $237.20 and a 200-day moving average price of $223.48. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The stock has a market capitalization of $236.35 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. Equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued 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 2.61%. International Business Machines’s dividend payout ratio is currently 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.