Wealth Effects LLC Sells 1,469 Shares of International Business Machines Co. (NYSE:IBM)

Wealth Effects LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 10.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,242 shares of the technology company’s stock after selling 1,469 shares during the period. International Business Machines accounts for approximately 1.0% of Wealth Effects LLC’s portfolio, making the stock its 14th largest holding. Wealth Effects LLC’s holdings in International Business Machines were worth $2,911,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares in the last quarter. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $1,940,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the 3rd quarter worth approximately $5,117,000. Nordea Investment Management AB lifted its stake in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares in the last quarter. Finally, M.E. Allison & CO. Inc. purchased a new position in shares of International Business Machines during the 4th quarter valued at $1,034,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. UBS Group raised their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group boosted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $220.73.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $224.06 on Tuesday. The stock has a market capitalization of $207.18 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The business’s 50 day simple moving average is $224.33 and its two-hundred day simple moving average is $212.82.

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 issued a dividend of $1.67 per share. 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 2.98%. International Business Machines’s dividend payout ratio is currently 97.23%.

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.