Athena Investment Management Sells 298 Shares of International Business Machines Co. (NYSE:IBM)

Athena Investment Management trimmed its position in International Business Machines Co. (NYSE:IBM) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,673 shares of the technology company’s stock after selling 298 shares during the period. International Business Machines makes up approximately 0.8% of Athena Investment Management’s investment portfolio, making the stock its 18th largest holding. Athena Investment Management’s holdings in International Business Machines were worth $1,467,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines during the third quarter worth approximately $29,000. Avondale Wealth Management increased its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 0.2 %

Shares of IBM stock opened at $252.63 on Friday. The stock has a 50 day simple moving average of $238.37 and a 200 day simple moving average of $224.13. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The stock has a market cap of $234.25 billion, a P/E ratio of 39.41, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wedbush assumed coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Jefferies Financial Group upped their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Bank of America upped their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $231.44.

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.