International Business Machines Co. (NYSE:IBM) Shares Sold by Core Wealth Partners LLC

Core Wealth Partners LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,163 shares of the technology company’s stock after selling 658 shares during the quarter. International Business Machines comprises about 0.9% of Core Wealth Partners LLC’s investment portfolio, making the stock its 27th biggest position. Core Wealth Partners LLC’s holdings in International Business Machines were worth $1,575,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of IBM. United Bank lifted its holdings in International Business Machines by 53.3% in the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 1,956 shares in the last quarter. Quest Partners LLC raised its position in shares of International Business Machines by 23,700.0% in the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after buying an additional 237 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of International Business Machines by 23.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company’s stock valued at $21,120,000 after buying an additional 18,340 shares during the period. Davis R M Inc. boosted its position in International Business Machines by 2.3% during the third quarter. Davis R M Inc. now owns 8,351 shares of the technology company’s stock worth $1,846,000 after acquiring an additional 186 shares during the last quarter. Finally, Truvestments Capital LLC grew its stake in International Business Machines by 12.9% in the 3rd quarter. Truvestments Capital LLC now owns 2,577 shares of the technology company’s stock worth $570,000 after acquiring an additional 294 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IBM. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Up 0.6 %

NYSE:IBM opened at $250.01 on Wednesday. The business’s 50-day moving average is $248.04 and its two-hundred day moving average is $230.76. The firm has a market capitalization of $231.83 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. Research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.18% 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.