AXS Investments LLC Sells 909 Shares of International Business Machines Co. (NYSE:IBM)

AXS Investments LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,686 shares of the technology company’s stock after selling 909 shares during the quarter. International Business Machines comprises 1.0% of AXS Investments LLC’s holdings, making the stock its 15th largest position. AXS Investments LLC’s holdings in International Business Machines were worth $4,364,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Naples Money Management LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $28,000. Briaud Financial Planning Inc acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $31,000. Stone House Investment Management LLC increased its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. raised its stake in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the period. Finally, Cordant Inc. boosted its position in shares of 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 during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock traded down $3.02 during trading on Thursday, hitting $170.67. 3,333,121 shares of the company’s stock traded hands, compared to its average volume of 4,758,716. 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 stock has a fifty day moving average price of $179.98 and a two-hundred day moving average price of $173.73. International Business Machines Co. has a 52 week low of $125.01 and a 52 week high of $199.18. The stock has a market capitalization of $156.78 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 4.27 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted 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 net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts anticipate that International Business Machines Co. will post 9.91 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.91%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Sanford C. Bernstein increased 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 report on Thursday, March 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a report on Wednesday. JPMorgan Chase & Co. cut their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, BMO Capital Markets decreased their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $181.29.

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.