Prentiss Smith & Co. Inc. Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Prentiss Smith & Co. Inc. raised its position in shares of International Business Machines Co. (NYSE:IBM) by 13.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,960 shares of the technology company’s stock after buying an additional 232 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in International Business Machines were worth $321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Naples Money Management LLC acquired a new position in International Business Machines in the 4th quarter worth about $28,000. Briaud Financial Planning Inc acquired a new position in International Business Machines in the 3rd quarter worth about $31,000. Stone House Investment Management LLC raised its holdings in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the period. Financial Gravity Asset Management Inc. raised its holdings in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the period. Finally, Cordant Inc. raised its holdings in International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. Sanford C. Bernstein increased their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Societe Generale reissued a “sell” rating and set a $143.00 target price on shares of International Business Machines in a report on Friday, January 5th. JPMorgan Chase & Co. reduced their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada increased their target price on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $180.31.

International Business Machines Price Performance

Shares of IBM stock traded down $14.80 during trading hours on Thursday, reaching $169.30. The company had a trading volume of 16,696,347 shares, compared to its average volume of 4,958,338. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a fifty day moving average of $188.36 and a 200-day moving average of $169.98. The company has a market capitalization of $155.20 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.58 and a beta of 0.70. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.04 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.92%. International Business Machines’s payout ratio is 81.67%.

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.