Spire Wealth Management Sells 776 Shares of International Business Machines Co. (NYSE:IBM)

Spire Wealth Management lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 5.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,493 shares of the technology company’s stock after selling 776 shares during the quarter. Spire Wealth Management’s holdings in International Business Machines were worth $2,746,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Czech National Bank boosted its stake in shares of International Business Machines by 7.2% during the 3rd quarter. Czech National Bank now owns 187,647 shares of the technology company’s stock valued at $41,485,000 after purchasing an additional 12,599 shares in the last quarter. GAMMA Investing LLC boosted its position in International Business Machines by 44.6% during the 3rd quarter. GAMMA Investing LLC now owns 13,551 shares of the technology company’s stock valued at $2,996,000 after acquiring an additional 4,181 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in shares of International Business Machines by 3.4% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,827 shares of the technology company’s stock worth $2,615,000 after acquiring an additional 384 shares during the period. Everpar Advisors LLC raised its position in shares of International Business Machines by 19.6% in the 3rd quarter. Everpar Advisors LLC now owns 1,452 shares of the technology company’s stock worth $321,000 after acquiring an additional 238 shares in the last quarter. Finally, Consilio Wealth Advisors LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at approximately $218,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM opened at $255.48 on Monday. The company’s 50-day simple moving average is $226.61 and its two-hundred day simple moving average is $214.56. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $261.80. The stock has a market capitalization of $236.23 billion, a P/E ratio of 39.86, a P/E/G ratio of 4.25 and a beta of 0.74. 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 (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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 40.37%. As a group, analysts predict that International Business Machines Co. will post 10.54 EPS for the current year.

International Business Machines Announces Dividend

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

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. BMO Capital Markets upped their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday. Sanford C. Bernstein increased their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $225.53.

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 shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is owned by corporate insiders.

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.