Fortitude Family Office LLC Lowers Stake in International Business Machines Co. (NYSE:IBM)

Fortitude Family Office LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,793 shares of the technology company’s stock after selling 83 shares during the period. Fortitude Family Office LLC’s holdings in International Business Machines were worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. grew its stake in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines in the second quarter valued at approximately $36,000. Modus Advisors LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new position in International Business Machines during the third quarter worth approximately $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $214.88.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

NYSE IBM opened at $223.15 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $206.33 billion, a P/E ratio of 32.48, a P/E/G ratio of 5.18 and a beta of 0.74. The stock has a 50-day moving average of $221.70 and a two-hundred day moving average of $208.69. International Business Machines Co. has a 1-year low of $159.51 and a 1-year high of $239.35.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. As a group, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.99%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.