Sterneck Capital Management LLC Sells 834 Shares of International Business Machines Co. (NYSE:IBM)

Sterneck Capital Management LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 5.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,604 shares of the technology company’s stock after selling 834 shares during the quarter. International Business Machines accounts for 1.6% of Sterneck Capital Management LLC’s holdings, making the stock its 17th biggest position. Sterneck Capital Management LLC’s holdings in International Business Machines were worth $2,552,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Natixis Advisors L.P. increased its stake in shares of International Business Machines by 18.1% during the 3rd quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock worth $52,235,000 after purchasing an additional 57,170 shares during the last quarter. Herold Advisors Inc. grew its stake in International Business Machines by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock valued at $3,070,000 after buying an additional 688 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in International Business Machines in the 3rd quarter valued at approximately $661,000. Silicon Valley Capital Partners grew its stake in International Business Machines by 33.6% in the 3rd quarter. Silicon Valley Capital Partners now owns 32,245 shares of the technology company’s stock valued at $4,524,000 after buying an additional 8,117 shares in the last quarter. Finally, Waverly Advisors LLC grew its position in shares of International Business Machines by 48.1% during the 3rd quarter. Waverly Advisors LLC now owns 19,692 shares of the technology company’s stock valued at $2,763,000 after purchasing an additional 6,397 shares in the last quarter. Institutional investors own 56.16% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Societe Generale reaffirmed a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Finally, Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $176.85.

International Business Machines Stock Down 0.6 %

IBM traded down $1.06 during midday trading on Friday, reaching $190.84. The company’s stock had a trading volume of 3,988,398 shares, compared to its average volume of 5,099,540. The firm has a market capitalization of $174.95 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 3.76 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The stock’s 50-day moving average is $184.91 and its 200-day moving average is $162.90.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.09. The firm had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a yield of 3.48%. International Business Machines’s dividend payout ratio (DPR) is 81.67%.

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.