Abundance Wealth Counselors Has $3.30 Million Stake in International Business Machines Co. (NYSE:IBM)

Abundance Wealth Counselors lowered its stake in International Business Machines Co. (NYSE:IBM) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,026 shares of the technology company’s stock after selling 446 shares during the quarter. International Business Machines comprises 0.7% of Abundance Wealth Counselors’ investment portfolio, making the stock its 19th largest position. Abundance Wealth Counselors’ holdings in International Business Machines were worth $3,303,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ellenbecker Investment Group grew its position in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares during the period. First Affirmative Financial Network grew its holdings in International Business Machines by 1.5% during the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC increased its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC raised its stake in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after buying an additional 47 shares during the period. Finally, Forza Wealth Management LLC lifted its position in shares of International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after buying an additional 47 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate insiders.

International Business Machines Trading Down 1.1 %

Shares of IBM stock opened at $255.48 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $261.80. The company has a market cap of $236.23 billion, a PE ratio of 39.86, a P/E/G ratio of 4.25 and a beta of 0.74. The stock’s fifty day moving average price is $226.61 and its two-hundred day moving average price is $214.36.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 40.37% and a net margin of 9.60%. Equities analysts predict that International Business Machines Co. will post 10.54 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.61%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IBM. Morgan Stanley increased their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $225.53.

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.