Carret Asset Management LLC Sells 99 Shares of International Business Machines Co. (NYSE:IBM)

Carret Asset Management LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,008 shares of the technology company’s stock after selling 99 shares during the quarter. Carret Asset Management LLC’s holdings in International Business Machines were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Naples Money Management LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $28,000. Briaud Financial Planning Inc bought a new position in shares of International Business Machines during the 3rd quarter valued at approximately $31,000. Stone House Investment Management LLC increased its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. increased its position in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Cordant Inc. increased its position in shares of International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IBM. Jefferies Financial Group cut their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday. Bank of America boosted their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. UBS Group boosted their price objective on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday. Finally, BMO Capital Markets boosted their price objective on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $177.23.

International Business Machines Stock Up 1.0 %

Shares of IBM stock traded up $1.82 during mid-day trading on Wednesday, hitting $184.01. The stock had a trading volume of 7,569,395 shares, compared to its average volume of 4,806,687. The firm has a market capitalization of $168.69 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The firm’s 50-day moving average is $188.35 and its two-hundred day moving average is $169.88.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. On average, analysts predict that International Business Machines Co. will post 10.04 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is 81.67%.

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.