Western Wealth Management LLC Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Western Wealth Management LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 82.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,962 shares of the technology company’s stock after selling 13,951 shares during the quarter. Western Wealth Management LLC’s holdings in International Business Machines were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Compass Financial Services Inc purchased a new position in International Business Machines in the fourth quarter worth $26,000. Vision Financial Markets LLC bought a new stake in International Business Machines during the fourth quarter worth about $31,000. Valued Wealth Advisors LLC lifted its stake in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of International Business Machines in the 4th quarter worth about $35,000. Finally, Tacita Capital Inc increased its position in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $258.79 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a fifty-two week low of $163.53 and a fifty-two week high of $269.28. The firm has a market cap of $240.52 billion, a P/E ratio of 40.37, a P/E/G ratio of 5.81 and a beta of 0.64. The business’s 50 day moving average price is $245.13 and its 200-day moving average price is $238.19.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 earnings per share. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.60%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IBM. Morgan Stanley dropped their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. UBS Group reissued a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America upped their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. 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 price target for the company. Finally, KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $249.06.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.