International Business Machines Co. (NYSE:IBM) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,720 shares of the technology company’s stock after selling 4,298 shares during the quarter. International Business Machines accounts for 1.5% of Daymark Wealth Partners LLC’s investment portfolio, making the stock its 16th largest holding. Daymark Wealth Partners LLC’s holdings in International Business Machines were worth $45,883,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% in the third 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 position in International Business Machines in the 3rd quarter valued at approximately $29,000. Avondale Wealth Management boosted its position in International Business Machines by 56.0% during 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 in the last quarter. Modus Advisors LLC acquired a new stake in International Business Machines in the fourth quarter valued at $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of International Business Machines in the third quarter valued at $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.2 %

NYSE:IBM opened at $224.30 on Wednesday. The business’s 50-day moving average is $223.36 and its two-hundred day moving average is $211.82. The firm has a market capitalization of $207.40 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. 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 Co. has a 12 month low of $162.62 and a 12 month high of $239.35.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Analysts Set New Price Targets

Several analysts have issued reports on IBM shares. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Morgan Stanley increased their target price on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $216.87.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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.