Courier Capital LLC Sells 740 Shares of International Business Machines Co. (NYSE:IBM)

Courier Capital LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,013 shares of the technology company’s stock after selling 740 shares during the quarter. Courier Capital LLC’s holdings in International Business Machines were worth $8,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P grew its position in International Business Machines by 97.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock valued at $33,459,000 after acquiring an additional 127,093 shares during the last quarter. Roundview Capital LLC purchased a new stake in International Business Machines in the first quarter worth $203,000. Sei Investments Co. lifted its stake in International Business Machines by 35.7% in the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after acquiring an additional 46,756 shares during the period. Candriam Luxembourg S.C.A. lifted its stake in International Business Machines by 1.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after acquiring an additional 1,821 shares during the period. Finally, Baird Financial Group Inc. lifted its position in International Business Machines by 1.5% during the first quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock valued at $49,698,000 after buying an additional 5,506 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Up 1.2 %

Shares of IBM opened at $190.80 on Thursday. The stock has a market capitalization of $174.91 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 3.69 and a beta of 0.70. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The business’s 50 day simple moving average is $186.30 and its 200-day simple moving average is $163.98. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, beating 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 return on equity of 39.55% and a net margin of 12.13%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. As a group, equities analysts expect that International Business Machines Co. will post 10.07 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent research reports. Societe Generale reissued a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. BMO Capital Markets lifted their price objective on International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Stifel Nicolaus boosted their price target on International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Finally, Bank of America boosted their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $176.85.

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.