International Business Machines Co. (NYSE:IBM) Shares Sold by Sunburst Financial Group LLC

Sunburst Financial Group LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 18.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,495 shares of the technology company's stock after selling 1,207 shares during the quarter. Sunburst Financial Group LLC's holdings in International Business Machines were worth $1,208,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IBM. Life Planning Partners Inc bought a new stake in shares of International Business Machines in the 4th quarter valued at about $36,002,000. Pathway Financial Advisers LLC bought a new position in International Business Machines in the fourth quarter worth approximately $4,706,000. Investment Partners Asset Management Inc. boosted its position in International Business Machines by 2.5% during the 4th quarter. Investment Partners Asset Management Inc. now owns 9,092 shares of the technology company's stock valued at $1,999,000 after acquiring an additional 221 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Avestar Capital LLC now owns 5,173 shares of the technology company's stock valued at $1,137,000 after acquiring an additional 569 shares during the period. Finally, Hudock Inc. bought a new position in shares of International Business Machines in the 4th quarter worth $2,739,000. 58.96% of the stock is currently owned by institutional investors.

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International Business Machines Price Performance

Shares of IBM traded up $1.46 during mid-day trading on Monday, hitting $260.65. The company's stock had a trading volume of 3,922,262 shares, compared to its average volume of 5,199,203. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The firm has a market capitalization of $241.01 billion, a P/E ratio of 40.66, a P/E/G ratio of 5.57 and a beta of 0.76. The firm has a 50-day simple moving average of $232.08 and a 200 day simple moving average of $219.64.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Analysts predict that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.56%. International Business Machines's dividend payout ratio is presently 104.21%.

Analyst Upgrades and Downgrades

IBM has been the subject of several analyst reports. StockNews.com upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. UBS Group raised their target price on International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $231.44.

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.