Sterneck Capital Management LLC Trims Holdings in International Business Machines Co. (NYSE:IBM)

Sterneck Capital Management LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,382 shares of the technology company’s stock after selling 523 shares during the quarter. International Business Machines makes up 1.6% of Sterneck Capital Management LLC’s holdings, making the stock its 21st largest holding. Sterneck Capital Management LLC’s holdings in International Business Machines were worth $2,942,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of IBM. Lantz Financial LLC lifted its holdings in shares of International Business Machines by 0.9% during the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after purchasing an additional 107 shares during the period. LGT Fund Management Co Ltd. purchased a new stake in International Business Machines during the 2nd quarter valued at about $259,000. Royal London Asset Management Ltd. increased its holdings in shares of International Business Machines by 3.3% in the second quarter. Royal London Asset Management Ltd. now owns 386,427 shares of the technology company’s stock valued at $66,833,000 after purchasing an additional 12,428 shares during the last quarter. Sachetta LLC raised its holdings in shares of International Business Machines by 2.6% during the 2nd quarter. Sachetta LLC now owns 2,962 shares of the technology company’s stock worth $566,000 after acquiring an additional 76 shares during the period. Finally, Levin Capital Strategies L.P. boosted its holdings in International Business Machines by 10.7% in the 2nd quarter. Levin Capital Strategies L.P. now owns 116,071 shares of the technology company’s stock valued at $20,074,000 after purchasing an additional 11,190 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Bank of America raised their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein upped their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $214.88.

International Business Machines Stock Up 0.7 %

IBM stock opened at $224.13 on Wednesday. The company has a 50 day moving average of $221.01 and a two-hundred day moving average of $208.49. 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 12-month low of $157.88 and a 12-month high of $239.35. The company has a market cap of $207.24 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.98%. International Business Machines’s payout ratio is 97.23%.

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.