Wrapmanager Inc. Has $325,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Wrapmanager Inc. lowered its stake in International Business Machines Co. (NYSE:IBM) by 3.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,985 shares of the technology company’s stock after selling 65 shares during the period. Wrapmanager Inc.’s holdings in International Business Machines were worth $325,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Naples Money Management LLC bought a new stake in International Business Machines in the 4th quarter valued at about $28,000. Briaud Financial Planning Inc acquired a new position in International Business Machines in the third quarter valued at about $31,000. Stone House Investment Management LLC raised its position in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its holdings in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 91 shares during the period. Finally, Cordant Inc. increased its stake in International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IBM. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Morgan Stanley cut their price objective on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a report on Wednesday, April 17th. Finally, Bank of America lifted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $181.29.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $3.60 during midday trading on Thursday, reaching $166.30. The company had a trading volume of 4,266,007 shares, compared to its average volume of 4,926,219. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The stock has a market cap of $152.76 billion, a P/E ratio of 18.83, a P/E/G ratio of 4.08 and a beta of 0.74. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The company’s 50 day moving average price is $184.80 and its 200 day moving average price is $171.86.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.02%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.