Waterfront Wealth Inc. Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Waterfront Wealth Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 27.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,980 shares of the technology company’s stock after selling 3,047 shares during the quarter. Waterfront Wealth Inc.’s holdings in International Business Machines were worth $1,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after purchasing an additional 365,388 shares during the period. Morgan Stanley grew its position in shares of International Business Machines by 22.8% in the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after buying an additional 3,084,458 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of International Business Machines by 7.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after buying an additional 1,105,170 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of International Business Machines by 98,797.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after buying an additional 11,017,849 shares during the period. Finally, Northern Trust Corp grew its position in shares of International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after buying an additional 404,948 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $0.70 during trading on Wednesday, hitting $183.05. The company’s stock had a trading volume of 3,002,863 shares, compared to its average volume of 4,829,810. The company has a 50-day moving average of $188.61 and a 200-day moving average of $168.54. International Business Machines Co. has a 12 month low of $120.55 and a 12 month 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 firm has a market cap of $167.81 billion, a price-to-earnings ratio of 22.52, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. During the same quarter in the prior year, the business earned $3.60 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Co. will post 10.07 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were paid a $1.66 dividend. This represents a $6.64 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of International Business Machines in a research note on Friday, January 5th. They issued a “hold” rating and a $180.00 price target on the stock. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Royal Bank of Canada upped their price target on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Sanford C. Bernstein upped their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $178.67.

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.