Cowa LLC Sells 379 Shares of International Business Machines Co. (NYSE:IBM)

Cowa LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,601 shares of the technology company’s stock after selling 379 shares during the period. Cowa LLC’s holdings in International Business Machines were worth $1,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sigma Planning Corp raised its holdings in shares of International Business Machines by 5.8% during the fourth quarter. Sigma Planning Corp now owns 36,103 shares of the technology company’s stock valued at $7,937,000 after acquiring an additional 1,972 shares in the last quarter. Callan Capital LLC raised its holdings in shares of International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after acquiring an additional 44 shares in the last quarter. Redmond Asset Management LLC raised its holdings in shares of International Business Machines by 2.1% during the fourth quarter. Redmond Asset Management LLC now owns 10,933 shares of the technology company’s stock valued at $2,404,000 after acquiring an additional 229 shares in the last quarter. Oxbow Advisors LLC raised its holdings in International Business Machines by 1.2% in the fourth quarter. Oxbow Advisors LLC now owns 5,053 shares of the technology company’s stock worth $1,111,000 after purchasing an additional 62 shares in the last quarter. Finally, Navellier & Associates Inc. raised its holdings in International Business Machines by 34.0% in the fourth quarter. Navellier & Associates Inc. now owns 5,507 shares of the technology company’s stock worth $1,211,000 after purchasing an additional 1,397 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research reports. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Two investment 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 data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Down 1.1 %

International Business Machines stock opened at $261.77 on Friday. The business has a 50-day simple moving average of $235.27 and a two-hundred day simple moving average of $221.81. The company has a market cap of $242.05 billion, a P/E ratio of 40.84, a P/E/G ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly 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 return on equity of 38.99% and a net margin of 9.60%. Analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio is currently 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.