TCI Wealth Advisors Inc. Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

TCI Wealth Advisors Inc. reduced its stake in International Business Machines Co. (NYSE:IBM) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,947 shares of the technology company’s stock after selling 203 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in International Business Machines were worth $1,136,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of IBM. Naples Money Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines in the third quarter valued at $31,000. Stone House Investment Management LLC increased its position in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. raised its position 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 acquiring an additional 91 shares during the last quarter. Finally, Cordant Inc. raised 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 worth $42,000 after purchasing an additional 226 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the topic of several analyst reports. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Jefferies Financial Group decreased their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Morgan Stanley cut their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. cut 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, April 25th. Finally, Sanford C. Bernstein increased their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $181.29.

International Business Machines Trading Up 0.6 %

Shares of IBM stock traded up $1.02 during mid-day trading on Friday, reaching $165.71. The company’s stock had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. The company’s 50 day simple moving average is $185.75 and its 200-day simple moving average is $171.44. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $152.22 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $1.36 EPS. On average, research analysts predict that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 4.03%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

About International Business Machines

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.