Teamwork Financial Advisors LLC Sells 3,703 Shares of International Business Machines Co. (NYSE:IBM)

Teamwork Financial Advisors LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 54.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,107 shares of the technology company’s stock after selling 3,703 shares during the period. Teamwork Financial Advisors LLC’s holdings in International Business Machines were worth $683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ellenbecker Investment Group raised its stake in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares in the last quarter. Goldstein Advisors LLC raised its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares in the last quarter. Vertex Planning Partners LLC grew its position in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after acquiring an additional 47 shares during the period. Forza Wealth Management LLC increased its stake in shares of International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 47 shares during the last quarter. Finally, Sollinda Capital Management LLC raised its holdings in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.5 %

IBM opened at $223.09 on Thursday. The stock has a market capitalization of $206.28 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 4.80 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The company has a 50-day simple moving average of $223.60 and a 200 day simple moving average of $211.90.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.99%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IBM. BMO Capital Markets boosted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $220.73.

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.