Spire Wealth Management Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Spire Wealth Management decreased its position in International Business Machines Co. (NYSE:IBM) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,798 shares of the technology company’s stock after selling 222 shares during the quarter. Spire Wealth Management’s holdings in International Business Machines were worth $2,709,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IBM. Naples Money Management LLC purchased a new stake in International Business Machines during the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines in the third quarter worth approximately $31,000. Stone House Investment Management LLC lifted its stake in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. boosted its holdings in International Business Machines by 67.9% during the 3rd 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 period. Finally, Cordant Inc. grew 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 valued at $42,000 after acquiring an additional 226 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein lifted 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 report on Thursday, March 7th. Wedbush increased their price target on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Jefferies Financial Group reduced 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 report on Tuesday, April 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $181.29.

International Business Machines Stock Up 0.2 %

NYSE:IBM traded up $0.40 during mid-day trading on Tuesday, hitting $169.01. 241,241 shares of the company’s stock traded hands, compared to its average volume of 4,916,596. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The company has a market capitalization of $155.25 billion, a P/E ratio of 19.10, a P/E/G ratio of 4.08 and a beta of 0.74. The company has a fifty day moving average of $185.44 and a 200 day moving average of $171.66. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. On average, analysts forecast that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.95%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. 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.