Pinnacle Wealth Management Advisory Group LLC Sells 151 Shares of International Business Machines Co. (NYSE:IBM)

Pinnacle Wealth Management Advisory Group LLC cut its position in International Business Machines Co. (NYSE:IBM) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,068 shares of the technology company’s stock after selling 151 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in International Business Machines were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Naples Money Management LLC acquired a new position in International Business Machines during the 4th quarter valued at $28,000. Briaud Financial Planning Inc bought a new stake in International Business Machines during the third quarter worth about $31,000. Stone House Investment Management LLC raised its position in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. grew its stake in shares of International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Cordant Inc. raised its position in International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.3 %

IBM traded down $2.22 during trading on Thursday, hitting $166.01. The company had a trading volume of 1,883,396 shares, compared to its average volume of 4,897,608. The firm’s 50-day moving average price is $185.11 and its 200 day moving average price is $171.88. The company has a market capitalization of $152.50 billion, a PE ratio of 18.88, a PEG 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 Co. has a one year low of $120.55 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share 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 company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines Co. will post 9.92 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Wedbush boosted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada raised their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group cut their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Three equities research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $181.29.

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.