Philip James Wealth Mangement LLC Sells 843 Shares of International Business Machines Co. (NYSE:IBM)

Philip James Wealth Mangement LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,304 shares of the technology company’s stock after selling 843 shares during the period. Philip James Wealth Mangement LLC’s holdings in International Business Machines were worth $4,903,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Marks Group Wealth Management Inc increased its holdings in International Business Machines by 0.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares in the last quarter. First Affirmative Financial Network increased its holdings in International Business Machines by 1.5% in the 4th quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares in the last quarter. Goldstein Advisors LLC increased its holdings in International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares in the last quarter. Vertex Planning Partners LLC increased its holdings in International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after purchasing an additional 47 shares in the last quarter. Finally, Forza Wealth Management LLC increased its holdings in International Business Machines by 0.4% in the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent research reports. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Bank of America increased their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Wedbush initiated coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Finally, UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 0.6 %

Shares of NYSE:IBM opened at $260.65 on Monday. The business’s 50 day simple moving average is $232.08 and its two-hundred day simple moving average is $219.45. The firm has a market cap of $241.01 billion, a P/E ratio of 40.66, a PEG ratio of 5.57 and a beta of 0.76. 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 52-week low of $162.62 and a 52-week high of $265.72.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts forecast that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.56%. International Business Machines’s payout ratio is 104.21%.

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.