Cedrus LLC Sells 517 Shares of International Business Machines Co. (NYSE:IBM)

Cedrus LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 16.7% during the 4th quarter, HoldingsChannel reports. The fund owned 2,581 shares of the technology company’s stock after selling 517 shares during the quarter. Cedrus LLC’s holdings in International Business Machines were worth $422,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IBM. Cornerstone Planning Group LLC bought a new stake in International Business Machines in the 2nd quarter valued at $28,000. Live Oak Investment Partners bought a new stake in International Business Machines during the 4th quarter worth about $30,000. Briaud Financial Planning Inc bought a new stake in International Business Machines during the 3rd quarter worth about $31,000. PCA Investment Advisory Services Inc. bought a new stake in International Business Machines during the 2nd quarter worth about $31,000. Finally, Stone House Investment Management LLC lifted its position in International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Societe Generale reaffirmed a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a report on Friday, January 5th. Bank of America upped their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Royal Bank of Canada upped their price target on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $176.85.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $185.90 on Friday. The company has a 50 day moving average of $188.73 and a 200-day moving average of $167.26. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The company has a market cap of $170.42 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.78 by $0.09. The business had revenue of $17.38 billion during 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 firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.60 EPS. As a group, equities research analysts forecast that International Business Machines Co. will post 10.07 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is currently 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.