Cornerstone Wealth Management LLC Has $9.10 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Cornerstone Wealth Management LLC decreased its stake in International Business Machines Co. (NYSE:IBM) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,378 shares of the technology company’s stock after selling 207 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in International Business Machines were worth $9,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its holdings in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares in the last quarter. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines in the fourth quarter valued at approximately $1,940,000. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines in the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines in the third quarter valued at approximately $5,117,000. Finally, Nordea Investment Management AB grew its stake in International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IBM shares. UBS Group raised their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted 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. Finally, Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $220.73.

International Business Machines Trading Up 1.1 %

NYSE IBM opened at $225.63 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business’s 50-day moving average price is $223.60 and its two-hundred day moving average price is $211.90. The firm has a market capitalization of $208.63 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.96%. International Business Machines’s payout ratio is 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is owned by corporate insiders.

International Business Machines 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.