Steel Grove Capital Advisors LLC Cuts Position in International Business Machines Co. (NYSE:IBM)

Steel Grove Capital Advisors LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,010 shares of the technology company’s stock after selling 1,276 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in International Business Machines were worth $2,455,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IBM. Cornerstone Planning Group LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $28,000. Live Oak Investment Partners bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $30,000. Briaud Financial Planning Inc bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $31,000. PCA Investment Advisory Services Inc. bought a new stake in International Business Machines during the 2nd quarter valued at $31,000. Finally, Stone House Investment Management LLC raised its holdings in 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 valued at $32,000 after acquiring an additional 204 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.2 %

International Business Machines stock traded up $2.30 during mid-day trading on Wednesday, reaching $190.80. The stock had a trading volume of 3,686,197 shares, compared to its average volume of 5,246,793. The company has a market capitalization of $174.91 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 3.70 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The company has a 50-day moving average price of $186.30 and a two-hundred day moving average price of $163.98.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The firm had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.60 earnings per share. On average, analysts expect that International Business Machines Co. will post 10.07 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.48%. International Business Machines’s payout ratio is 81.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IBM shares. Bank of America boosted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Jefferies Financial Group began coverage on shares of International Business Machines in a research report on Friday, January 5th. They issued a “hold” rating and a $180.00 target price for the company. Stifel Nicolaus upped their target price on shares of International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Societe Generale reiterated a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. Finally, Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $176.85.

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.