Leisure Capital Management Lowers Stake in International Business Machines Co. (NYSE:IBM)

Leisure Capital Management reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,629 shares of the technology company’s stock after selling 451 shares during the period. Leisure Capital Management’s holdings in International Business Machines were worth $266,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Naples Money Management LLC bought a new stake in International Business Machines during the 4th quarter valued at about $28,000. Briaud Financial Planning Inc bought a new stake in International Business Machines during the 3rd quarter valued at about $31,000. Stone House Investment Management LLC increased its stake in International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. increased its stake in International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares in the last quarter. Finally, Cordant Inc. increased its stake in International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.1 %

International Business Machines stock traded down $1.78 during mid-day trading on Friday, hitting $167.13. The company’s stock had a trading volume of 8,983,796 shares, compared to its average volume of 3,906,041. The company has a 50 day moving average of $187.60 and a 200-day moving average of $170.15. The stock has a market cap of $153.21 billion, a PE ratio of 18.94, a P/E/G ratio of 3.33 and a beta of 0.70. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.93 and a current ratio of 1.13. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the company posted $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 9.99 EPS for the current 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 given 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

A number of analysts have recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research note on Wednesday, April 17th. Wedbush lifted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday. BMO Capital Markets reduced their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. lowered their price target 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $184.08.

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.