Blodgett Wealth Advisors LLC Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Blodgett Wealth Advisors LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,618 shares of the technology company’s stock after selling 150 shares during the quarter. Blodgett Wealth Advisors LLC’s holdings in International Business Machines were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vontobel Holding Ltd. grew its position in International Business Machines by 20.3% in the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after acquiring an additional 80,474 shares in the last quarter. Natixis Advisors L.P. grew its position in International Business Machines by 18.1% in the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock worth $52,235,000 after acquiring an additional 57,170 shares in the last quarter. Herold Advisors Inc. boosted its position in International Business Machines by 3.2% during the third quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock valued at $3,070,000 after buying an additional 688 shares during the period. Tsfg LLC boosted its position in International Business Machines by 40.5% during the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after buying an additional 109 shares during the period. Finally, Mizuho Securities Co. Ltd. purchased a new stake in International Business Machines during the third quarter valued at about $661,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.0 %

Shares of NYSE IBM traded down $1.71 on Friday, reaching $167.20. 8,982,844 shares of the company’s stock traded hands, compared to its average volume of 5,007,767. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The business’s 50 day simple moving average is $187.60 and its two-hundred day simple moving average is $170.15. The company has a market cap of $153.28 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 3.62 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.50%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.04 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is 75.20%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Societe Generale restated a “sell” rating and set a $143.00 price target on shares of International Business Machines in a research report on Friday, January 5th. Sanford C. Bernstein increased their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Royal Bank of Canada increased their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Bank of America increased their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $184.08.

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.