International Business Machines Co. (NYSE:IBM) Position Reduced by Balboa Wealth Partners

Balboa Wealth Partners lowered its stake in International Business Machines Co. (NYSE:IBM) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,261 shares of the technology company’s stock after selling 169 shares during the period. Balboa Wealth Partners’ holdings in International Business Machines were worth $497,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines in the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the fourth quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at $373,000. Finally, Truist Financial Corp grew its position in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 1.6 %

International Business Machines stock opened at $245.67 on Friday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The firm’s 50 day moving average price is $243.72 and its two-hundred day moving average price is $227.70. The firm has a market cap of $227.80 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. 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 (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%. On average, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.72%. International Business Machines’s dividend payout ratio is presently 104.21%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. BMO Capital Markets boosted their price objective on 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. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group boosted their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.