Northcape Wealth Management LLC Reduces Holdings in International Business Machines Co. (NYSE:IBM)

Northcape Wealth Management LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,011 shares of the technology company’s stock after selling 1,157 shares during the quarter. International Business Machines makes up approximately 1.4% of Northcape Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Northcape Wealth Management LLC’s holdings in International Business Machines were worth $4,399,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Bank of Jackson Hole Trust acquired a new stake in International Business Machines during the 4th quarter valued at $86,000. Callahan Advisors LLC lifted its position in shares of International Business Machines by 81.0% in the fourth quarter. Callahan Advisors LLC now owns 5,558 shares of the technology company’s stock valued at $1,222,000 after acquiring an additional 2,488 shares in the last quarter. Mcdonald Partners LLC boosted its stake in shares of International Business Machines by 1.8% during the fourth quarter. Mcdonald Partners LLC now owns 18,726 shares of the technology company’s stock valued at $4,117,000 after acquiring an additional 329 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in International Business Machines by 32.5% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 36,146 shares of the technology company’s stock worth $7,946,000 after purchasing an additional 8,873 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in International Business Machines by 36.1% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 10,487 shares of the technology company’s stock valued at $2,305,000 after purchasing an additional 2,780 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.6 %

IBM opened at $262.85 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market capitalization of $243.04 billion, a PE ratio of 41.01, a P/E/G ratio of 5.73 and a beta of 0.76. The firm’s fifty day moving average price is $233.32 and its 200 day moving average price is $220.66.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, research analysts expect that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.54%. International Business Machines’s payout ratio is 104.21%.

Analysts Set New Price Targets

Several research firms have issued reports on IBM. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Bank of America upped their target price 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. Finally, UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the stock 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 issued a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $231.44.

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.