TAP Consulting LLC Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

TAP Consulting LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,675 shares of the technology company’s stock after selling 80 shares during the period. TAP Consulting LLC’s holdings in International Business Machines were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Advisory Alpha LLC boosted its holdings in shares of International Business Machines by 84.1% in the 3rd quarter. Advisory Alpha LLC now owns 7,356 shares of the technology company’s stock valued at $1,032,000 after purchasing an additional 3,361 shares during the last quarter. Secure Asset Management LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $214,000. Asset Management One Co. Ltd. boosted its holdings in shares of International Business Machines by 2.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 529,406 shares of the technology company’s stock valued at $74,276,000 after purchasing an additional 11,016 shares during the last quarter. Benin Management CORP boosted its holdings in shares of International Business Machines by 1.8% in the 3rd quarter. Benin Management CORP now owns 5,593 shares of the technology company’s stock valued at $785,000 after purchasing an additional 100 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in shares of International Business Machines by 86.6% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 307,827 shares of the technology company’s stock valued at $43,188,000 after purchasing an additional 142,886 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.0 %

Shares of IBM traded down $1.71 during midday trading on Friday, hitting $167.20. The company had a trading volume of 8,982,844 shares, compared to its average volume of 5,007,767. The company’s 50 day moving average price is $188.00 and its 200 day moving average price is $169.97. The stock has a market cap of $153.28 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 3.62 and a beta of 0.70. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. 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 released its earnings results 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 the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.50%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBM shares. UBS Group lifted their price target on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday. Wedbush lifted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Royal Bank of Canada lifted their target price on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $184.08.

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.