Core Alternative Capital Has $3.23 Million Position in International Business Machines Co. (NYSE:IBM)

Core Alternative Capital lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 9.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,695 shares of the technology company’s stock after selling 1,540 shares during the quarter. Core Alternative Capital’s holdings in International Business Machines were worth $3,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Meeder Asset Management Inc. grew its position in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines during the 4th quarter worth $373,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines during the third quarter worth $5,117,000. Finally, Nordea Investment Management AB boosted its position in shares of International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after acquiring an additional 4,625 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.3 %

Shares of International Business Machines stock opened at $248.95 on Tuesday. The firm’s 50 day moving average is $229.76 and its 200 day moving average is $217.38. The firm has a market capitalization of $230.19 billion, a PE ratio of 38.84, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. Equities research analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Wall Street Analyst Weigh In

Several analysts have weighed in on IBM shares. UBS Group lifted their price objective 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. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Sanford C. Bernstein increased their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $225.53.

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.