Sugarloaf Wealth Management LLC Reduces Stake in International Business Machines Co. (NYSE:IBM)

Sugarloaf Wealth Management LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 2.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,717 shares of the technology company’s stock after selling 118 shares during the period. Sugarloaf Wealth Management LLC’s holdings in International Business Machines were worth $631,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. ERn Financial LLC lifted its stake in shares of International Business Machines by 4.2% in the 4th quarter. ERn Financial LLC now owns 1,886 shares of the technology company’s stock valued at $266,000 after purchasing an additional 76 shares during the last quarter. IRON Financial LLC lifted its stake in International Business Machines by 4.4% during the 4th quarter. IRON Financial LLC now owns 1,849 shares of the technology company’s stock worth $261,000 after acquiring an additional 78 shares in the last quarter. Wintrust Investments LLC lifted its stake in International Business Machines by 3.9% during the 4th quarter. Wintrust Investments LLC now owns 2,173 shares of the technology company’s stock worth $306,000 after acquiring an additional 82 shares in the last quarter. Forte Capital LLC ADV lifted its stake in International Business Machines by 0.9% during the 4th quarter. Forte Capital LLC ADV now owns 9,423 shares of the technology company’s stock worth $1,328,000 after acquiring an additional 82 shares in the last quarter. Finally, Tranquility Partners LLC lifted its stake in International Business Machines by 5.0% during the 1st quarter. Tranquility Partners LLC now owns 1,730 shares of the technology company’s stock worth $227,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 56.16% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM traded up $1.09 during mid-day trading on Tuesday, reaching $146.18. 2,124,976 shares of the stock were exchanged, compared to its average volume of 4,529,355. The company has a 50 day simple moving average of $142.59 and a 200-day simple moving average of $133.71. The stock has a market capitalization of $133.17 billion, a P/E ratio of 67.18, a P/E/G ratio of 3.71 and a beta of 0.85. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a 1 year low of $115.54 and a 1 year high of $153.21.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 19th. The technology company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. The firm had revenue of $15.48 billion for the quarter, compared to the consensus estimate of $15.58 billion. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS. Analysts anticipate that International Business Machines Co. will post 9.43 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 dividend on an annualized basis and a yield of 4.54%. International Business Machines’s payout ratio is 307.41%.

Analyst Ratings Changes

Several research firms recently issued reports on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Wedbush reaffirmed a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research report on Thursday, July 20th. BMO Capital Markets increased their price target on International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a research report on Monday, July 17th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $135.00 price target on shares of International Business Machines in a research report on Thursday, July 20th. Finally, Stifel Nicolaus increased their price target on International Business Machines from $140.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $142.91.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.