Waterfront Wealth Inc. Has $1.31 Million Stake in International Business Machines Co. (NYSE:IBM)

Waterfront Wealth Inc. decreased its holdings in International Business Machines Co. (NYSE:IBM) by 27.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,980 shares of the technology company’s stock after selling 3,047 shares during the quarter. Waterfront Wealth Inc.’s holdings in International Business Machines were worth $1,305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. Moneta Group Investment Advisors LLC raised its stake in International Business Machines by 98,797.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after purchasing an additional 11,017,849 shares in the last quarter. Norges Bank acquired a new position in shares of International Business Machines in the 4th quarter valued at approximately $876,014,000. Morgan Stanley raised its position in shares of International Business Machines by 22.8% in the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after buying an additional 3,084,458 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after buying an additional 2,636,386 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of International Business Machines by 35.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock valued at $579,892,000 after buying an additional 1,163,790 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.4 %

NYSE IBM traded down $0.70 on Wednesday, hitting $183.05. The company’s stock had a trading volume of 3,002,863 shares, compared to its average volume of 4,829,810. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18. The company’s 50-day moving average is $188.61 and its 200 day moving average is $168.54. The firm has a market cap of $167.81 billion, a PE ratio of 22.52, a PEG ratio of 3.55 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IBM. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. BMO Capital Markets boosted their target price on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Societe Generale reiterated a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. Jefferies Financial Group started coverage on shares of International Business Machines in a research note on Friday, January 5th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $178.67.

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.