LaFleur & Godfrey LLC Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

LaFleur & Godfrey LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,789 shares of the technology company’s stock after selling 1,688 shares during the quarter. LaFleur & Godfrey LLC’s holdings in International Business Machines were worth $6,549,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. increased 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 valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines during the 3rd quarter valued at about $29,000. Avondale Wealth Management raised its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the second quarter worth about $36,000. Finally, Modus Advisors LLC purchased a new stake in International Business Machines in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.9 %

IBM opened at $224.73 on Monday. The firm has a market capitalization of $207.80 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74. The company’s 50 day simple moving average is $222.87 and its two-hundred day simple moving average is $210.89. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the business earned $2.20 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Sanford C. Bernstein raised their price objective 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. Finally, UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $216.87.

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.