Pinnacle Wealth Management Advisory Group LLC Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Naples Money Management LLC bought a new position in International Business Machines in the 4th quarter valued at $28,000. Briaud Financial Planning Inc purchased a new position in shares of International Business Machines in the 3rd quarter worth about $31,000. Stone House Investment Management LLC increased its holdings in 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 worth $32,000 after buying an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. raised its position in International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 91 shares during the period. Finally, Cordant Inc. boosted its stake in International Business Machines by 753.3% in 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. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada boosted their target price 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. JPMorgan Chase & Co. reduced their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a report on Wednesday, April 17th. Wedbush boosted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, UBS Group upped their price target on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $181.29.

International Business Machines Stock Down 1.3 %

International Business Machines stock traded down $2.22 on Thursday, hitting $166.01. 1,883,396 shares of the stock traded hands, compared to its average volume of 4,897,608. The business’s fifty day simple moving average is $185.11 and its 200 day simple moving average is $171.88. The firm has a market cap of $152.50 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. As a group, sell-side analysts forecast that International Business Machines Co. will post 9.92 earnings per share 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. Stockholders of record on Friday, May 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

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.