Sterneck Capital Management LLC Has $2.94 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Sterneck Capital Management LLC decreased its holdings in International Business Machines Co. (NYSE:IBM) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,382 shares of the technology company’s stock after selling 523 shares during the quarter. International Business Machines makes up about 1.6% of Sterneck Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Sterneck Capital Management LLC’s holdings in International Business Machines were worth $2,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in International Business Machines during the third quarter valued at approximately $29,000. Modus Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $40,000. Capital Performance Advisors LLP bought a new stake in shares of International Business Machines in the third quarter worth about $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.7 %

International Business Machines stock opened at $224.13 on Wednesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a 50-day simple moving average of $221.01 and a 200 day simple moving average of $208.49. The stock has a market capitalization of $207.24 billion, a P/E ratio of 32.62, a PEG ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $239.35.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the firm earned $2.20 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBM. Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, Bernstein Bank increased their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $214.88.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Company 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.