Benin Management CORP Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Benin Management CORP reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,067 shares of the technology company’s stock after selling 526 shares during the quarter. Benin Management CORP’s holdings in International Business Machines were worth $829,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IBM. United Capital Management of KS Inc. lifted its stake in International Business Machines by 5.2% in the 4th quarter. United Capital Management of KS Inc. now owns 15,857 shares of the technology company’s stock valued at $2,593,000 after buying an additional 778 shares in the last quarter. Valley National Advisers Inc. lifted its stake in International Business Machines by 19.5% in the 4th quarter. Valley National Advisers Inc. now owns 3,154 shares of the technology company’s stock valued at $515,000 after buying an additional 514 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in International Business Machines by 8.2% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 4,021 shares of the technology company’s stock valued at $658,000 after buying an additional 306 shares in the last quarter. Moseley Investment Management Inc. purchased a new position in International Business Machines in the 4th quarter valued at about $245,000. Finally, Beddow Capital Management Inc. raised its holdings in International Business Machines by 1.7% in the 4th quarter. Beddow Capital Management Inc. now owns 63,092 shares of the technology company’s stock valued at $10,319,000 after acquiring an additional 1,072 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on IBM. Societe Generale reiterated a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada increased their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group began coverage on shares of International Business Machines in a research report on Friday, January 5th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $176.85.

International Business Machines Stock Up 0.3 %

NYSE:IBM traded up $0.63 during midday trading on Monday, hitting $189.77. 780,253 shares of the company were exchanged, compared to its average volume of 4,957,743. The company has a fifty day simple moving average of $188.62 and a 200 day simple moving average of $166.40. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $173.97 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 3.71 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.78 by $0.09. The business had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.60 earnings per share. As a group, equities analysts anticipate 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 $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is presently 81.67%.

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.