Raleigh Capital Management Inc. Has $2.04 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Raleigh Capital Management Inc. trimmed its stake in International Business Machines Co. (NYSE:IBM) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,296 shares of the technology company’s stock after selling 374 shares during the quarter. Raleigh Capital Management Inc.’s holdings in International Business Machines were worth $2,044,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in IBM. Hazlett Burt & Watson Inc. raised its stake in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the 3rd quarter valued at $29,000. Avondale Wealth Management boosted its stake in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Modus Advisors LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in International Business Machines in the 3rd quarter valued at $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.5 %

Shares of IBM opened at $223.09 on Thursday. The stock’s fifty day simple moving average is $223.60 and its 200-day simple moving average is $211.90. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $206.28 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. As a group, research analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. increased their price objective on International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $220.73.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

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.