Sunpointe LLC Lowers Stake in International Business Machines Co. (NYSE:IBM)

Sunpointe LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 971 shares of the technology company’s stock after selling 73 shares during the period. Sunpointe LLC’s holdings in International Business Machines were worth $213,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Corps Capital Advisors LLC bought a new stake in International Business Machines during the 4th quarter valued at about $1,275,000. Private Advisor Group LLC increased its stake in International Business Machines by 73.7% during the 4th quarter. Private Advisor Group LLC now owns 288,856 shares of the technology company’s stock valued at $63,499,000 after purchasing an additional 122,600 shares in the last quarter. Pegasus Asset Management Inc. increased its stake in International Business Machines by 6.1% during the 4th quarter. Pegasus Asset Management Inc. now owns 2,667 shares of the technology company’s stock valued at $586,000 after purchasing an additional 153 shares in the last quarter. Laidlaw Wealth Management LLC increased its stake in International Business Machines by 2.7% during the 4th quarter. Laidlaw Wealth Management LLC now owns 3,539 shares of the technology company’s stock valued at $778,000 after purchasing an additional 93 shares in the last quarter. Finally, Financial Management Network Inc. increased its stake in International Business Machines by 4.6% during the 4th quarter. Financial Management Network Inc. now owns 2,194 shares of the technology company’s stock valued at $488,000 after purchasing an additional 96 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE IBM opened at $264.85 on Friday. The company has a market capitalization of $244.89 billion, a PE ratio of 41.32, a price-to-earnings-growth ratio of 5.77 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. The business’s fifty day moving average is $234.65 and its 200 day moving average is $221.26. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. Sell-side analysts predict that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Announces Dividend

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 of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.52%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Morgan Stanley raised their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Finally, Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $231.44.

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.