Eagle Wealth Strategies LLC Sells 69 Shares of International Business Machines Co. (NYSE:IBM)

Eagle Wealth Strategies LLC decreased its holdings in International Business Machines Co. (NYSE:IBM) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,707 shares of the technology company’s stock after selling 69 shares during the quarter. Eagle Wealth Strategies LLC’s holdings in International Business Machines were worth $375,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IBM. Ellenbecker Investment Group grew its stake in shares of International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC boosted its holdings in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares during the period. Vertex Planning Partners LLC grew its position in International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after acquiring an additional 47 shares during the last quarter. Forza Wealth Management LLC increased its stake in International Business Machines by 0.4% in the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 47 shares during the period. Finally, Sollinda Capital Management LLC boosted its stake in shares of International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.2 %

NYSE:IBM opened at $224.30 on Wednesday. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The company’s 50-day simple moving average is $223.36 and its 200 day simple moving average is $211.82. The firm has a market capitalization of $207.40 billion, a P/E ratio of 32.65, a PEG ratio of 4.81 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 EPS. As a group, analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared 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 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 presently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IBM shares. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Morgan Stanley lifted their price objective 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $216.87.

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.