SignalPoint Asset Management LLC Sells 103 Shares of International Business Machines Co. (NYSE:IBM)

SignalPoint Asset Management LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,893 shares of the technology company’s stock after selling 103 shares during the period. SignalPoint Asset Management LLC’s holdings in International Business Machines were worth $636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Thrive Wealth Management LLC raised its stake in shares of International Business Machines by 0.9% during the fourth quarter. Thrive Wealth Management LLC now owns 7,311 shares of the technology company’s stock valued at $1,196,000 after acquiring an additional 64 shares in the last quarter. Journey Strategic Wealth LLC raised its holdings in shares of International Business Machines by 2.9% in the third quarter. Journey Strategic Wealth LLC now owns 2,459 shares of the technology company’s stock valued at $345,000 after acquiring an additional 69 shares in the last quarter. Perkins Coie Trust Co raised its holdings in shares of International Business Machines by 0.3% in the third quarter. Perkins Coie Trust Co now owns 21,220 shares of the technology company’s stock valued at $2,977,000 after acquiring an additional 72 shares in the last quarter. Equitable Trust Co. raised its holdings in shares of International Business Machines by 1.1% in the third quarter. Equitable Trust Co. now owns 6,792 shares of the technology company’s stock valued at $953,000 after acquiring an additional 72 shares in the last quarter. Finally, Resurgent Financial Advisors LLC raised its holdings in shares of International Business Machines by 19.8% in the 2nd quarter. Resurgent Financial Advisors LLC now owns 442 shares of the technology company’s stock valued at $59,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 56.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IBM shares. Jefferies Financial Group started coverage on shares of International Business Machines in a report on Friday, January 5th. They issued a “hold” rating and a $180.00 price target for the company. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada boosted their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $165.00 to $200.00 in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $176.85.

International Business Machines Stock Performance

International Business Machines stock traded down $0.29 during mid-day trading on Tuesday, reaching $188.50. 4,225,410 shares of the company traded hands, compared to its average volume of 5,273,235. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The firm’s fifty day moving average is $185.87 and its two-hundred day moving average is $163.70. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market capitalization of $172.81 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 3.74 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The firm had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. During the same period in the prior year, the firm earned $3.60 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts expect that International Business Machines Co. will post 10.07 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 81.67%.

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.