Spectrum Wealth Counsel LLC Sells 240 Shares of International Business Machines Co. (NYSE:IBM)

Spectrum Wealth Counsel LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 17.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,112 shares of the technology company’s stock after selling 240 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in International Business Machines were worth $244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. FMR LLC raised its position in International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares in the last quarter. Swiss National Bank raised its position in International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after acquiring an additional 12,400 shares in the last quarter. Holocene Advisors LP bought a new position in shares of International Business Machines in the third quarter valued at about $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of International Business Machines by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock valued at $546,824,000 after purchasing an additional 32,732 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 0.2 %

Shares of International Business Machines stock opened at $252.63 on Friday. The firm’s 50-day moving average price is $238.37 and its two-hundred day moving average price is $224.13. International Business Machines Co. has a 12-month low of $162.62 and a 12-month 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. The company has a market capitalization of $234.25 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 5.81 and a beta of 0.76.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. 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 2.64%. International Business Machines’s payout ratio is currently 104.21%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IBM shares. JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” 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 and seven have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target 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.