SVB Wealth LLC Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

SVB Wealth LLC trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 19.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,417 shares of the technology company’s stock after selling 34,186 shares during the period. SVB Wealth LLC’s holdings in International Business Machines were worth $23,456,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Avion Wealth boosted its holdings in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after acquiring an additional 56 shares during the last quarter. Financial Security Advisor Inc. boosted its holdings in shares of International Business Machines by 2.7% in the 4th quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock valued at $384,000 after acquiring an additional 61 shares during the last quarter. Cornerstone Wealth Group LLC boosted its holdings in shares of International Business Machines by 3.6% in the 4th quarter. Cornerstone Wealth Group LLC now owns 1,734 shares of the technology company’s stock valued at $284,000 after acquiring an additional 61 shares during the last quarter. Webster Bank N. A. boosted its holdings in shares of International Business Machines by 0.9% in the 4th quarter. Webster Bank N. A. now owns 7,131 shares of the technology company’s stock valued at $1,166,000 after acquiring an additional 62 shares during the last quarter. Finally, Thrive Wealth Management LLC boosted its holdings in shares of International Business Machines by 0.9% in the 4th quarter. Thrive Wealth Management LLC now owns 7,311 shares of the technology company’s stock valued at $1,196,000 after acquiring an additional 64 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $2.45 during trading hours on Tuesday, reaching $183.70. 1,726,676 shares of the company’s stock were exchanged, compared to its average volume of 4,814,588. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a market capitalization of $168.41 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The business has a fifty day moving average of $188.62 and a two-hundred day moving average of $168.13. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business had revenue of $17.38 billion during the quarter, compared to analyst estimates of $17.29 billion. During the same quarter in the prior year, the firm earned $3.60 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Co. will post 10.07 earnings per share 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 issued a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 81.67%.

Analyst Ratings Changes

Several research firms have recently commented on IBM. Stifel Nicolaus upped their price objective on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Bank of America boosted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Jefferies Financial Group initiated coverage on shares of International Business Machines in a research note on Friday, January 5th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Sanford C. Bernstein boosted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.08.

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.