Cherry Tree Wealth Management LLC Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Cherry Tree Wealth Management LLC trimmed its stake in International Business Machines Co. (NYSE:IBM) by 8.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 853 shares of the technology company’s stock after selling 76 shares during the period. Cherry Tree Wealth Management LLC’s holdings in International Business Machines were worth $140,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Naples Money Management LLC acquired a new position in International Business Machines during the fourth quarter worth $28,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines in the 3rd quarter valued at $31,000. Stone House Investment Management LLC lifted 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 worth $32,000 after acquiring an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. boosted its holdings 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 acquiring an additional 91 shares during the period. Finally, Cordant Inc. grew its position in International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IBM shares. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research note on Wednesday, April 17th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Sanford C. Bernstein upped their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. decreased 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, April 25th. Finally, BMO Capital Markets cut their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.29.

International Business Machines Stock Up 0.9 %

IBM stock traded up $1.52 during midday trading on Wednesday, reaching $169.90. 3,473,794 shares of the company were exchanged, compared to its average volume of 4,933,335. The stock’s 50-day simple moving average is $185.11 and its 200 day simple moving average is $171.88. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The company has a market cap of $156.07 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping 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 40.21%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts forecast that International Business Machines Co. will post 9.92 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.93%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s payout ratio is presently 75.20%.

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.