Geneos Wealth Management Inc. Trims Position in International Business Machines Co. (NYSE:IBM)

Geneos Wealth Management Inc. lowered its position in International Business Machines Co. (NYSE:IBM) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,307 shares of the technology company’s stock after selling 181 shares during the quarter. Geneos Wealth Management Inc.’s holdings in International Business Machines were worth $2,705,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% in the third 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 during the last quarter. Hara Capital LLC purchased a new stake in International Business Machines in the third quarter valued at $29,000. Avondale Wealth Management lifted its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the 2nd quarter worth $36,000. Finally, Modus Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $40,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM opened at $224.69 on Friday. The stock’s 50-day simple moving average is $224.33 and its 200-day simple moving average is $212.32. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market capitalization of $207.75 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price objective on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $220.73.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.07% of the company’s stock.

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.