Boothe Investment Group Inc. Cuts Position in International Business Machines Co. (NYSE:IBM)

Boothe Investment Group Inc. decreased its position in International Business Machines Co. (NYSE:IBM) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,096 shares of the technology company’s stock after selling 592 shares during the quarter. International Business Machines accounts for approximately 1.0% of Boothe Investment Group Inc.’s portfolio, making the stock its 29th largest position. Boothe Investment Group Inc.’s holdings in International Business Machines were worth $2,219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. increased its position in shares of International Business Machines by 40.9% during 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 during the period. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $373,000. Finally, Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines during the third quarter worth $5,117,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Price Performance

Shares of IBM opened at $261.77 on Monday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The company has a market capitalization of $242.05 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. The firm has a 50-day simple moving average of $235.27 and a 200-day simple moving average of $222.30. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid 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 2.55%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

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.