Cidel Asset Management Inc. Has $1.94 Million Position in International Business Machines Co. (NYSE:IBM)

Cidel Asset Management Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,817 shares of the technology company’s stock after selling 401 shares during the quarter. Cidel Asset Management Inc.’s holdings in International Business Machines were worth $1,938,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Hazlett Burt & Watson Inc. raised its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines during the third quarter valued at about $29,000. Avondale Wealth Management grew its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the last quarter. Valued Wealth Advisors LLC increased its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $40,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.4 %

Shares of IBM opened at $252.31 on Friday. The stock has a fifty day moving average price of $229.26 and a two-hundred day moving average price of $216.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market cap of $233.30 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 5.63 and a beta of 0.76. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts predict that International Business Machines Co. will post 10.73 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. International Business Machines’s payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IBM shares. Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.