Cornerstone Wealth Management LLC Lowers Position in International Business Machines Co. (NYSE:IBM)

Cornerstone Wealth Management LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 41,378 shares of the technology company’s stock after selling 207 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in International Business Machines were worth $9,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Hazlett Burt & Watson Inc. increased its position in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the third quarter valued at approximately $29,000. Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the second quarter valued at approximately $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $40,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Morgan Stanley raised their target price on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Finally, Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $220.73.

International Business Machines Stock Performance

Shares of IBM opened at $225.63 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business’s 50 day moving average price is $223.60 and its 200-day moving average price is $211.90. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The stock has a market cap of $208.63 billion, a P/E ratio of 32.84, a P/E/G ratio of 4.78 and a beta of 0.74.

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

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.96%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by insiders.

International Business Machines 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.