Kendall Capital Management Trims Stake in International Business Machines Co. (NYSE:IBM)

Kendall Capital Management reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,359 shares of the technology company’s stock after selling 294 shares during the period. Kendall Capital Management’s holdings in International Business Machines were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Cornerstone Planning Group LLC purchased a new stake in International Business Machines during the second quarter valued at approximately $28,000. Live Oak Investment Partners purchased a new stake in shares of International Business Machines in the fourth quarter worth $30,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines in the third quarter worth $31,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of International Business Machines in the second quarter worth $31,000. Finally, Stone House Investment Management LLC increased its stake in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IBM shares. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. BMO Capital Markets increased their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Finally, Societe Generale restated a “sell” rating and set a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $176.85.

International Business Machines Price Performance

IBM stock opened at $185.93 on Thursday. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The company has a fifty day simple moving average of $188.75 and a two-hundred day simple moving average of $167.13. The firm has a market capitalization of $170.45 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released 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 business had revenue of $17.38 billion during the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. International Business Machines’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.60 earnings per share. Analysts anticipate 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. Stockholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.57%. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

International Business Machines 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.