International Business Machines Co. (NYSE:IBM) Shares Sold by Courier Capital LLC

Courier Capital LLC trimmed its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,675 shares of the technology company's stock after selling 10,777 shares during the quarter. Courier Capital LLC's holdings in International Business Machines were worth $8,502,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock worth $29,000 after buying an additional 116 shares during the period. Hara Capital LLC purchased a new position in International Business Machines in the third quarter valued at about $29,000. Avondale Wealth Management boosted its stake in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Modus Advisors LLC bought a new stake in International Business Machines in the fourth quarter valued at about $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines during the 3rd quarter valued at approximately $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM traded down $2.36 during trading hours on Monday, reaching $217.39. 3,709,705 shares of the company traded hands, compared to its average volume of 3,206,479. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock's fifty day moving average is $221.92 and its 200 day moving average is $209.52. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The stock has a market cap of $201.01 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. Equities research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines's payout ratio is 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. Morgan Stanley raised their target price on shares of International Business Machines from $208.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, December 16th. BMO Capital Markets raised their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a research note on Thursday, October 24th. Sanford C. Bernstein upped their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Finally, Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $214.88.

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.

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