Phoenix Wealth Advisors Has $317,000 Position in International Business Machines Co. (NYSE:IBM)

Phoenix Wealth Advisors lessened its holdings in International Business Machines Co. (NYSE:IBM) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,965 shares of the technology company’s stock after selling 75 shares during the period. Phoenix Wealth Advisors’ holdings in International Business Machines were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cornerstone Planning Group LLC bought a new position in shares of International Business Machines during the 2nd quarter worth about $28,000. Live Oak Investment Partners bought a new position in shares of International Business Machines during the 4th quarter worth about $30,000. Briaud Financial Planning Inc bought a new position in shares of International Business Machines during the 3rd quarter worth about $31,000. PCA Investment Advisory Services Inc. bought a new position in shares of International Business Machines during the 2nd quarter worth about $31,000. Finally, Stone House Investment Management LLC increased its holdings in shares of International Business Machines by 971.4% during the 3rd 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 period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on IBM shares. Jefferies Financial Group started coverage on shares of International Business Machines in a research report on Friday, January 5th. They set a “hold” rating and a $180.00 target price on the stock. Stifel Nicolaus lifted their target price on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets boosted their price target on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $178.08.

International Business Machines Trading Up 1.4 %

IBM traded up $2.50 during mid-day trading on Wednesday, hitting $183.75. The stock had a trading volume of 4,473,654 shares, compared to its average volume of 3,265,758. 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 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The stock’s fifty day simple moving average is $188.63 and its 200-day simple moving average is $168.44. The firm has a market capitalization of $168.45 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 3.55 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. During the same period last year, the business posted $3.60 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, research analysts forecast that International Business Machines Co. will post 10.07 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is currently 81.67%.

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.