Bogart Wealth LLC Sells 12,584 Shares of International Business Machines Co. (NYSE:IBM)

Bogart Wealth LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 15.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 68,771 shares of the technology company’s stock after selling 12,584 shares during the period. International Business Machines accounts for about 0.6% of Bogart Wealth LLC’s investment portfolio, making the stock its 28th largest holding. Bogart Wealth LLC’s holdings in International Business Machines were worth $11,247,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. WESPAC Advisors LLC purchased a new position in International Business Machines in the 3rd quarter worth approximately $204,000. Cambridge Trust Co. boosted its stake in shares of International Business Machines by 0.9% during the 3rd quarter. Cambridge Trust Co. now owns 13,515 shares of the technology company’s stock valued at $1,896,000 after purchasing an additional 120 shares in the last quarter. Washington Capital Management Inc. bought a new stake in International Business Machines during the 3rd quarter valued at approximately $955,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of International Business Machines by 19.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 485,616 shares of the technology company’s stock worth $68,141,000 after acquiring an additional 78,990 shares in the last quarter. Finally, Kanawha Capital Management LLC boosted its position in shares of International Business Machines by 1.5% during the third quarter. Kanawha Capital Management LLC now owns 56,422 shares of the technology company’s stock valued at $7,916,000 after purchasing an additional 822 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IBM. UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Royal Bank of Canada lifted their price objective on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. BMO Capital Markets reduced their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Finally, Sanford C. Bernstein upped their price target 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $181.29.

International Business Machines Price Performance

IBM stock traded down $1.22 during trading on Thursday, reaching $167.01. The company’s stock had a trading volume of 633,628 shares, compared to its average volume of 4,884,365. The company’s fifty day moving average is $185.11 and its 200-day moving average is $171.88. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a market capitalization of $153.42 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the company earned $1.36 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts expect that International Business Machines Co. will post 9.92 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 4.00%. International Business Machines’s dividend payout ratio is presently 75.20%.

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.