Embree Financial Group Cuts Stake in International Business Machines Co. (NYSE:IBM)

Embree Financial Group trimmed its holdings in International Business Machines Co. (NYSE:IBMFree Report) by 4.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,523 shares of the technology company’s stock after selling 72 shares during the period. Embree Financial Group’s holdings in International Business Machines were worth $335,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IBM. Ellenbecker Investment Group lifted its stake in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC increased its holdings in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares during the period. Vertex Planning Partners LLC lifted its stake in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after acquiring an additional 47 shares during the last quarter. Forza Wealth Management LLC boosted its holdings in International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after acquiring an additional 47 shares during the period. Finally, Sollinda Capital Management LLC grew its position in International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after acquiring an additional 49 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on IBM. Morgan Stanley boosted their price objective on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, BMO Capital Markets boosted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $220.73.

View Our Latest Stock Analysis on IBM

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Trading Down 0.6 %

NYSE IBM opened at $224.69 on Friday. The stock’s 50 day moving average is $224.33 and its 200 day moving average is $212.32. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $207.75 billion, a PE ratio of 32.71, a P/E/G ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35.

International Business Machines (NYSE:IBMGet Free Report) last released 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 net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the firm earned $2.20 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

About International Business Machines

(Free Report)

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.

See Also

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

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