ZWJ Investment Counsel Inc. Trims Position in International Business Machines Co. (NYSE:IBM)

ZWJ Investment Counsel Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,985 shares of the technology company’s stock after selling 635 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in International Business Machines were worth $2,614,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Naples Money Management LLC purchased a new position in International Business Machines during the 4th quarter valued at about $28,000. Cornerstone Planning Group LLC purchased a new position in shares of International Business Machines during the second quarter worth about $28,000. Live Oak Investment Partners purchased a new position in shares of International Business Machines during the fourth quarter worth about $30,000. Briaud Financial Planning Inc purchased a new position in shares of International Business Machines during the third quarter worth about $31,000. Finally, Stone House Investment Management LLC grew its holdings in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.1 %

IBM stock traded up $0.16 during midday trading on Friday, hitting $181.63. The company had a trading volume of 3,037,624 shares, compared to its average volume of 4,780,670. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. The stock’s 50 day moving average price is $188.46 and its 200 day moving average price is $168.91. The stock has a market cap of $166.51 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 3.58 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The firm had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. During the same period in the previous year, the firm earned $3.60 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.07 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were paid a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.66%. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Societe Generale reissued a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Bank of America boosted their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Jefferies Financial Group initiated coverage on International Business Machines in a research report on Friday, January 5th. They issued a “hold” rating and a $180.00 target price for the company. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $178.67.

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.