Northcape Wealth Management LLC Has $2.44 Million Position in International Business Machines Co. (NYSE:IBM)

Northcape Wealth Management LLC reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,934 shares of the technology company’s stock after selling 169 shares during the period. Northcape Wealth Management LLC’s holdings in International Business Machines were worth $2,442,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Naples Money Management LLC bought a new stake in shares of International Business Machines during the fourth quarter worth approximately $28,000. Briaud Financial Planning Inc acquired a new position in International Business Machines during the third quarter valued at approximately $31,000. Stone House Investment Management LLC grew its holdings in International Business Machines by 971.4% during the third 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 during the period. Financial Gravity Asset Management Inc. grew its holdings in International Business Machines by 67.9% during the third 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 during the period. Finally, Cordant Inc. grew its holdings in International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Societe Generale reissued a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Royal Bank of Canada upped their price target on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Sanford C. Bernstein upped their price target on shares of 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. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $184.08.

International Business Machines Price Performance

Shares of IBM traded down $1.24 during mid-day trading on Tuesday, reaching $166.19. The company had a trading volume of 6,010,206 shares, compared to its average volume of 5,023,267. The company’s 50 day simple moving average is $187.19 and its 200 day simple moving average is $170.72. 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 capitalization of $152.35 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 4.08 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. Analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is presently 75.20%.

International Business Machines Company 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.