Corrado Advisors LLC Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Corrado Advisors LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,546 shares of the technology company’s stock after selling 2,330 shares during the quarter. International Business Machines makes up approximately 1.9% of Corrado Advisors LLC’s holdings, making the stock its 16th biggest holding. Corrado Advisors LLC’s holdings in International Business Machines were worth $2,379,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Naples Money Management LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc purchased a new position in International Business Machines during the third quarter valued at approximately $31,000. Stone House Investment Management LLC increased its holdings in 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 buying an additional 204 shares during the period. Financial Gravity Asset Management Inc. increased its holdings in 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 buying an additional 91 shares during the period. Finally, Cordant Inc. increased its holdings in International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after buying an additional 226 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM traded up $0.29 on Tuesday, reaching $182.19. 5,921,450 shares of the company’s stock traded hands, compared to its average volume of 4,773,702. The firm has a market cap of $167.02 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 3.57 and a beta of 0.70. The stock has a 50 day moving average price of $188.38 and a 200-day moving average price of $169.59. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The company had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 earnings per share. Equities research analysts predict that International Business Machines Co. will post 10.04 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 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 yield of 3.64%. International Business Machines’s dividend payout ratio is presently 81.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IBM shares. Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. UBS Group raised their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday. Bank of America raised their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Sanford C. Bernstein raised their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Finally, Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $177.23.

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.