Meritage Portfolio Management Sells 246 Shares of International Business Machines Co. (NYSE:IBM)

Meritage Portfolio Management decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,636 shares of the technology company’s stock after selling 246 shares during the period. Meritage Portfolio Management’s holdings in International Business Machines were worth $6,646,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Naples Money Management LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc purchased a new position in shares of International Business Machines during the third quarter valued at approximately $31,000. Stone House Investment Management LLC raised its stake in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. raised its stake in shares of International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares in the last quarter. Finally, Cordant Inc. raised its stake 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 buying an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock traded down $2.46 during mid-day trading on Friday, reaching $166.45. The company’s stock had a trading volume of 5,968,483 shares, compared to its average volume of 4,968,498. The stock has a market cap of $152.59 billion, a PE ratio of 18.96, a P/E/G ratio of 3.62 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The company’s 50 day moving average is $188.00 and its two-hundred day moving average is $169.97.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.50%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the company posted $1.36 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts expect that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.99%. International Business Machines’s payout ratio is currently 75.20%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IBM shares. JPMorgan Chase & Co. reduced their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Royal Bank of Canada boosted their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two equities research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $184.08.

International Business Machines Company 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.