Kovack Advisors Inc. Sells 489 Shares of International Business Machines Co. (NYSE:IBM)

Kovack Advisors Inc. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBM. International Assets Investment Management LLC grew its holdings in International Business Machines by 15,439.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after acquiring an additional 2,636,386 shares during the last quarter. Morgan Stanley lifted its position in shares of International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. California Public Employees Retirement System lifted its position in shares of International Business Machines by 15.9% in the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after purchasing an additional 871,247 shares during the period. Bank of New York Mellon Corp lifted its position in shares of International Business Machines by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after purchasing an additional 807,357 shares during the period. Finally, Northern Trust Corp lifted its position in shares of International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after purchasing an additional 404,948 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 1.1 %

IBM traded down $1.78 during trading on Friday, hitting $167.13. 8,983,796 shares of the company’s stock were exchanged, compared to its average volume of 3,906,041. The company has a quick ratio of 0.93, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The business’s 50 day moving average is $187.60 and its two-hundred day moving average is $170.15. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The stock has a market cap 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 (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 24th. 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 net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 9.99 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday. BMO Capital Markets dropped their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday. UBS Group boosted their price target 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. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, Societe Generale reiterated a “sell” rating and set a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $184.08.

International Business Machines Company 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.