Westhampton Capital LLC Sells 50 Shares of International Business Machines Co. (NYSE:IBM)

Westhampton Capital LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,196 shares of the technology company’s stock after selling 50 shares during the quarter. International Business Machines comprises about 1.1% of Westhampton Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Westhampton Capital LLC’s holdings in International Business Machines were worth $2,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of IBM. First Affirmative Financial Network increased its position in International Business Machines by 1.5% in the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares during the last quarter. DMC Group LLC grew its stake in shares of International Business Machines by 8.8% in the 4th quarter. DMC Group LLC now owns 3,475 shares of the technology company’s stock worth $764,000 after buying an additional 280 shares in the last quarter. Abel Hall LLC increased its holdings in shares of International Business Machines by 4.5% in the 4th quarter. Abel Hall LLC now owns 1,399 shares of the technology company’s stock worth $307,000 after buying an additional 60 shares during the last quarter. Enzi Wealth raised its position in shares of International Business Machines by 42.8% during the 4th quarter. Enzi Wealth now owns 1,382 shares of the technology company’s stock valued at $308,000 after buying an additional 414 shares in the last quarter. Finally, Strategic Planning Group LLC lifted its holdings in shares of International Business Machines by 1.7% in the 4th quarter. Strategic Planning Group LLC now owns 34,352 shares of the technology company’s stock valued at $7,552,000 after acquiring an additional 574 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 IBM opened at $229.13 on Thursday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a 50 day moving average price of $224.95 and a 200-day moving average price of $213.44. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The stock has a market capitalization of $211.87 billion, a PE ratio of 33.35, a PEG ratio of 4.78 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. Equities analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.92%. International Business Machines’s dividend payout ratio is presently 97.23%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IBM shares. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday. Morgan Stanley lifted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America upped their target price on International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $221.13.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was 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 owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

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.