Sequent Asset Management LLC Purchases New Holdings in International Business Machines Co. (NYSE:IBM)

Sequent Asset Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel reports. The firm acquired 1,968 shares of the technology company’s stock, valued at approximately $322,000.

A number of other institutional investors also recently made changes to their positions in IBM. RMR Wealth Builders increased its holdings in International Business Machines by 2.7% in the third quarter. RMR Wealth Builders now owns 3,375 shares of the technology company’s stock valued at $474,000 after buying an additional 90 shares during the last quarter. Sweet Financial Partners LLC lifted its stake in International Business Machines by 20.1% during the third quarter. Sweet Financial Partners LLC now owns 3,125 shares of the technology company’s stock worth $438,000 after purchasing an additional 522 shares during the last quarter. Toews Corp ADV acquired a new position in International Business Machines in the third quarter worth $772,000. Vicus Capital increased its stake in International Business Machines by 33.7% during the third quarter. Vicus Capital now owns 3,171 shares of the technology company’s stock valued at $445,000 after purchasing an additional 800 shares during the last quarter. Finally, Barrett & Company Inc. raised its holdings in shares of International Business Machines by 6.1% during the third quarter. Barrett & Company Inc. now owns 2,668 shares of the technology company’s stock worth $374,000 after purchasing an additional 154 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

International Business Machines stock traded down $1.24 during midday trading on Tuesday, hitting $166.19. The company’s stock had a trading volume of 6,010,206 shares, compared to its average volume of 5,023,267. The company has a market capitalization of $152.35 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 4.08 and a beta of 0.70. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The stock’s 50-day moving average price is $186.85 and its 200-day moving average price is $170.91.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 EPS. Analysts anticipate that International Business Machines Co. will post 9.99 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. Stockholders of record on Friday, May 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.02%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is 75.20%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wedbush lifted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Jefferies Financial Group lowered their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. dropped their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Societe Generale reiterated a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a research note on Friday, January 5th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.