Allen Mooney & Barnes Investment Advisors LLC Cuts Stake in International Business Machines Co. (NYSE:IBM)

Allen Mooney & Barnes Investment Advisors LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,625 shares of the technology company’s stock after selling 1,121 shares during the period. International Business Machines comprises about 1.5% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 28th largest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in International Business Machines were worth $9,150,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pines Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter valued at $2,109,000. Accurate Wealth Management LLC raised its position in shares of International Business Machines by 2.2% in the fourth quarter. Accurate Wealth Management LLC now owns 5,160 shares of the technology company’s stock valued at $1,134,000 after buying an additional 111 shares during the last quarter. Sovereign Financial Group Inc. boosted its position in International Business Machines by 3.9% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,819 shares of the technology company’s stock worth $1,059,000 after acquiring an additional 182 shares during the last quarter. Safeguard Financial LLC purchased a new stake in International Business Machines during the 4th quarter valued at about $310,000. Finally, Sharper & Granite LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $240,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on IBM. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $215.81.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s 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 completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.07% of the stock is currently owned by company insiders.

International Business Machines Price Performance

Shares of IBM opened at $217.54 on Wednesday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The firm’s 50 day moving average price is $222.34 and its 200 day moving average price is $210.16. 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 company has a market cap of $201.15 billion, a P/E ratio of 31.67, a PEG ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 EPS. On average, research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. International Business Machines’s dividend payout ratio is currently 97.23%.

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.