Blodgett Wealth Advisors LLC Has $265,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Blodgett Wealth Advisors LLC decreased its stake in International Business Machines Co. (NYSE:IBM) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,618 shares of the technology company’s stock after selling 150 shares during the period. Blodgett Wealth Advisors LLC’s holdings in International Business Machines were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Naples Money Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth $28,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines during the third quarter worth $31,000. Stone House Investment Management LLC boosted its stake in 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 buying an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. boosted its stake in International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 91 shares in the last quarter. Finally, Cordant Inc. boosted its stake in International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group lifted 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. Jefferies Financial Group cut their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday. Royal Bank of Canada lifted their price objective on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, BMO Capital Markets cut their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday. Two 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $184.08.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $1.71 during trading on Friday, reaching $167.20. The company’s stock had a trading volume of 8,982,844 shares, compared to its average volume of 5,007,767. The stock has a 50-day moving average price of $187.60 and a two-hundred day moving average price of $170.15. 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 one year low of $120.55 and a one year high of $199.18. The stock has a market capitalization of $153.28 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 3.62 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates 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 40.50% and a net margin of 13.18%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.04 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a yield of 3.97%. International Business Machines’s payout ratio is 75.20%.

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.