Eagle Bay Advisors LLC Sells 89 Shares of International Business Machines Co. (NYSE:IBM)

Eagle Bay Advisors LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,356 shares of the technology company’s stock after selling 89 shares during the quarter. Eagle Bay Advisors LLC’s holdings in International Business Machines were worth $738,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its holdings in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management grew its holdings in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter worth approximately $36,000. Finally, Modus Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at $40,000. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on IBM. BMO Capital Markets upped their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $214.88.

International Business Machines Stock Down 1.6 %

IBM traded down $3.52 during trading on Monday, hitting $216.23. 1,112,001 shares of the company’s stock were exchanged, compared to its average volume of 2,833,858. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business’s 50 day moving average is $221.92 and its two-hundred day moving average is $209.52. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The stock has a market cap of $199.94 billion, a P/E ratio of 31.47, a PEG ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.09%. International Business Machines’s payout ratio is 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction 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. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines 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.