Spire Wealth Management Reduces Position in International Business Machines Co. (NYSE:IBM)

Spire Wealth Management reduced its holdings in shares of International Business Machines Co. (NYSE:IBMFree Report) by 4.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,020 shares of the technology company’s stock after selling 756 shares during the quarter. Spire Wealth Management’s holdings in International Business Machines were worth $2,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC increased its holdings in shares of International Business Machines by 10.1% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 11,423 shares of the technology company’s stock valued at $1,603,000 after acquiring an additional 1,044 shares in the last quarter. NewEdge Wealth LLC increased its stake in International Business Machines by 3.5% during the 3rd quarter. NewEdge Wealth LLC now owns 5,663 shares of the technology company’s stock valued at $794,000 after purchasing an additional 193 shares in the last quarter. WealthBridge Capital Management LLC purchased a new position in shares of International Business Machines in the third quarter worth $206,000. First Command Advisory Services Inc. lifted its stake in shares of International Business Machines by 173,250.0% during the third quarter. First Command Advisory Services Inc. now owns 3,467 shares of the technology company’s stock worth $486,000 after buying an additional 3,465 shares during the period. Finally, Penobscot Investment Management Company Inc. grew its holdings in shares of International Business Machines by 8.7% during the third quarter. Penobscot Investment Management Company Inc. now owns 7,719 shares of the technology company’s stock valued at $1,083,000 after buying an additional 619 shares during the last quarter. 56.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Royal Bank of Canada raised their target price on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley dropped their target price on International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. Stifel Nicolaus raised their price target on shares of International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Societe Generale reaffirmed a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Finally, BMO Capital Markets raised their target price on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $171.92.

View Our Latest Stock Analysis on IBM

International Business Machines Trading Down 1.3 %

IBM stock opened at $183.40 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $196.90. The company’s 50-day simple moving average is $166.86 and its 200-day simple moving average is $152.62. The firm has a market cap of $167.47 billion, a P/E ratio of 22.56, a PEG ratio of 3.65 and a beta of 0.71.

International Business Machines (NYSE:IBMGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.78 by $0.09. The company had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. International Business Machines’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $3.60 earnings per share. As a group, equities analysts forecast that International Business Machines Co. will post 10.03 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 9th. Shareholders of record on Friday, February 9th will be given a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Thursday, February 8th. International Business Machines’s dividend payout ratio is presently 81.67%.

About International Business Machines

(Free Report)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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