Capital Investment Counsel Inc Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Capital Investment Counsel Inc cut its position in International Business Machines Co. (NYSE:IBM) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,739 shares of the technology company’s stock after selling 1,525 shares during the quarter. Capital Investment Counsel Inc’s holdings in International Business Machines were worth $1,920,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vontobel Holding Ltd. raised its stake in shares of International Business Machines by 20.3% in the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after buying an additional 80,474 shares during the period. Natixis Advisors L.P. raised its stake in shares of International Business Machines by 18.1% during the 3rd quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock valued at $52,235,000 after purchasing an additional 57,170 shares during the period. Herold Advisors Inc. raised its stake in shares of International Business Machines by 3.2% during the 3rd quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock valued at $3,070,000 after purchasing an additional 688 shares during the period. Tsfg LLC raised its stake in shares of International Business Machines by 40.5% during the 4th quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after purchasing an additional 109 shares during the period. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of International Business Machines during the 3rd quarter valued at $661,000. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on IBM. UBS Group upped their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. decreased their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America upped their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. BMO Capital Markets decreased their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $184.08.

International Business Machines Stock Up 0.1 %

IBM stock traded up $0.25 during midday trading on Monday, hitting $167.38. The stock had a trading volume of 558,781 shares, compared to its average volume of 4,951,296. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The business has a 50-day moving average of $187.60 and a two-hundred day moving average of $170.53. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The firm has a market cap of $153.44 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 4.08 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that International Business Machines Co. will post 9.99 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is currently 75.20%.

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.