International Business Machines Co. (NYSE:IBM) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 75.1% during the fourth quarter, HoldingsChannel reports. The firm owned 3,977 shares of the technology company’s stock after selling 11,995 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in International Business Machines were worth $650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. WBI Investments LLC grew its stake in shares of International Business Machines by 47.4% in the 4th quarter. WBI Investments LLC now owns 17,980 shares of the technology company’s stock valued at $2,941,000 after buying an additional 5,786 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of International Business Machines during the fourth quarter worth $114,000. Tidemark LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at $56,000. Union Savings Bank boosted its holdings in International Business Machines by 12.2% during the 4th quarter. Union Savings Bank now owns 1,688 shares of the technology company’s stock valued at $276,000 after acquiring an additional 183 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its stake in International Business Machines by 9.8% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 12,882 shares of the technology company’s stock worth $2,107,000 after purchasing an additional 1,147 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE IBM traded down $2.46 on Thursday, reaching $171.23. The stock had a trading volume of 1,349,894 shares, compared to its average volume of 4,753,060. The stock has a market cap of $157.29 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 4.27 and a beta of 0.74. International Business Machines Co. has a 12-month low of $125.01 and a 12-month high of $199.18. The business’s 50-day moving average price is $179.98 and its 200 day moving average price is $173.73. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, equities analysts expect that International Business Machines Co. will post 9.91 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBM. Wedbush lifted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. UBS Group boosted their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Bank of America lifted their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $181.29.

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.