Raab & Moskowitz Asset Management LLC Trims Stake in International Business Machines Co. (NYSE:IBM)

Raab & Moskowitz Asset Management LLC reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,420 shares of the technology company’s stock after selling 90 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in International Business Machines were worth $232,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Naples Money Management LLC purchased a new position in International Business Machines in the fourth quarter worth $28,000. Briaud Financial Planning Inc bought a new position in shares of International Business Machines during the third quarter valued at about $31,000. Stone House Investment Management LLC raised its stake in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. raised 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 acquiring an additional 91 shares during the last quarter. Finally, Cordant Inc. raised its stake in shares of International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE:IBM traded down $1.78 during trading hours on Friday, hitting $167.13. 8,983,796 shares of the stock traded hands, compared to its average volume of 3,906,041. The company has a market cap of $153.21 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70. International Business Machines Co. has a 1 year low of $120.55 and a 1 year 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 announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced 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. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.97%. International Business Machines’s dividend payout ratio is 75.20%.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. BMO Capital Markets decreased their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday. Jefferies Financial Group decreased their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.08.

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.