Kovack Advisors Inc. Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Kovack Advisors Inc. lessened its stake in International Business Machines Co. (NYSE:IBM) by 6.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,568 shares of the technology company’s stock after selling 489 shares during the quarter. Kovack Advisors Inc.’s holdings in International Business Machines were worth $1,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jackson Hole Capital Partners LLC boosted its holdings in International Business Machines by 14.2% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 20,293 shares of the technology company’s stock worth $3,319,000 after acquiring an additional 2,523 shares in the last quarter. Prentiss Smith & Co. Inc. boosted its holdings in International Business Machines by 13.4% in the fourth quarter. Prentiss Smith & Co. Inc. now owns 1,960 shares of the technology company’s stock worth $321,000 after acquiring an additional 232 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in International Business Machines by 0.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 515,212 shares of the technology company’s stock worth $84,263,000 after acquiring an additional 1,962 shares in the last quarter. Syon Capital LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth about $220,000. Finally, Lyell Wealth Management LP acquired a new stake in shares of International Business Machines during the fourth quarter worth about $312,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $1.78 on Friday, reaching $167.13. The company’s stock had a trading volume of 8,983,796 shares, compared to its average volume of 3,906,041. The company has a market capitalization of $153.21 billion, a P/E ratio of 18.94, a PEG ratio of 3.33 and a beta of 0.70. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The stock has a 50-day moving average price of $187.60 and a 200-day moving average price of $170.15. The company has a quick ratio of 0.93, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is 75.20%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein lifted their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Wedbush boosted their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday. Societe Generale reissued a “sell” rating and issued a $143.00 price target on shares of International Business Machines in a report on Friday, January 5th. Finally, Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $184.08.

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.