Cherry Tree Wealth Management LLC Sells 76 Shares of International Business Machines Co. (NYSE:IBM)

Cherry Tree Wealth Management LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 853 shares of the technology company’s stock after selling 76 shares during the period. Cherry Tree Wealth Management LLC’s holdings in International Business Machines were worth $140,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Naples Money Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at $28,000. Briaud Financial Planning Inc bought a new position in International Business Machines in the 3rd quarter valued at about $31,000. Stone House Investment Management LLC grew its position in shares of International Business Machines by 971.4% in the third 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. increased 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 worth $32,000 after purchasing an additional 91 shares during the period. Finally, Cordant Inc. lifted its holdings in International Business Machines by 753.3% during 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. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

International Business Machines stock traded up $1.52 during midday trading on Wednesday, hitting $169.90. 3,473,794 shares of the company’s stock were exchanged, compared to its average volume of 4,933,335. The company has a market cap of $156.07 billion, a P/E ratio of 19.24, a PEG ratio of 4.08 and a beta of 0.74. 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 stock has a 50-day moving average price of $185.11 and a two-hundred day moving average price of $171.88. International Business Machines Co. has a 52-week low of $120.55 and a 52-week 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 (EPS) for the quarter, beating 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 business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the business posted $1.36 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.93%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

Analyst Ratings Changes

A number of research firms recently commented on IBM. Sanford C. Bernstein raised their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Wedbush raised their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. UBS Group upped their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research note on Wednesday, April 17th. Finally, Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $181.29.

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.