International Business Machines Co. (NYSE:IBM) Shares Sold by Spinnaker Trust

Spinnaker Trust decreased its position in International Business Machines Co. (NYSE:IBM) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,352 shares of the technology company’s stock after selling 115 shares during the quarter. Spinnaker Trust’s holdings in International Business Machines were worth $3,595,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Compass Financial Services Inc acquired a new stake in International Business Machines in the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. grew its position in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the third quarter valued at approximately $29,000. Avondale Wealth Management grew its position in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC grew its position in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IBM shares. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. BMO Capital Markets lifted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. UBS Group lifted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Price Performance

Shares of NYSE IBM opened at $260.65 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The firm’s 50-day simple moving average is $231.63 and its 200 day simple moving average is $218.77. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The stock has a market cap of $241.01 billion, a P/E ratio of 40.66, a P/E/G ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities analysts expect that International Business Machines Co. will post 10.75 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

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.