Norden Group LLC Cuts Holdings in International Business Machines Co. (NYSE:IBM)

Norden Group LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 16.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,056 shares of the technology company’s stock after selling 977 shares during the quarter. Norden Group LLC’s holdings in International Business Machines were worth $827,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Naples Money Management LLC purchased a new position in International Business Machines in the fourth quarter worth $28,000. Briaud Financial Planning Inc purchased a new position in International Business Machines in the third quarter worth $31,000. Stone House Investment Management LLC grew its holdings in International Business Machines by 971.4% in the third 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. grew its holdings in International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Cordant Inc. grew its holdings in International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on IBM. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group lifted their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Jefferies Financial Group lowered their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Societe Generale reiterated a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. Finally, Morgan Stanley lowered their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $184.08.

International Business Machines Trading Down 0.7 %

NYSE IBM opened at $166.19 on Wednesday. The company has a market capitalization of $152.35 billion, a PE ratio of 18.82, a P/E/G ratio of 4.10 and a beta of 0.70. The company has a fifty day moving average of $186.85 and a 200 day moving average of $170.91. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. Research analysts forecast that International Business Machines Co. will post 9.98 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced 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 boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.02%. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

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.