1620 Investment Advisors Inc. Sells 811 Shares of International Business Machines Co. (NYSE:IBM)

1620 Investment Advisors Inc. trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 11.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,425 shares of the technology company’s stock after selling 811 shares during the period. International Business Machines comprises 1.1% of 1620 Investment Advisors Inc.’s holdings, making the stock its 24th biggest holding. 1620 Investment Advisors Inc.’s holdings in International Business Machines were worth $1,051,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IBM. Norges Bank bought a new position in International Business Machines in the 4th quarter worth about $1,019,009,000. International Assets Investment Management LLC grew its stake in International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after acquiring an additional 2,636,386 shares in the last quarter. Morgan Stanley grew its stake in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after acquiring an additional 1,919,490 shares in the last quarter. Capital Wealth Planning LLC bought a new position in International Business Machines in the 4th quarter worth about $172,887,000. Finally, Northern Trust Corp grew its stake in International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after acquiring an additional 404,948 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Thursday, May 16th. UBS Group increased their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Wedbush increased their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Finally, Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Three equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $181.29.

International Business Machines Stock Up 0.1 %

NYSE:IBM traded up $0.23 during midday trading on Wednesday, reaching $173.70. 3,293,737 shares of the stock traded hands, compared to its average volume of 4,788,172. International Business Machines Co. has a 12-month low of $125.01 and a 12-month high of $199.18. The business has a 50-day moving average of $180.44 and a two-hundred day moving average of $173.73. 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 stock has a market capitalization of $159.56 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 4.19 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 earnings per share. On average, equities analysts forecast that International Business Machines Co. will post 9.91 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.85%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

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.