International Business Machines Co. (NYSE:IBM) Shares Sold by Northern Financial Advisors Inc

Northern Financial Advisors Inc cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,971 shares of the technology company’s stock after selling 844 shares during the quarter. International Business Machines comprises approximately 1.2% of Northern Financial Advisors Inc’s investment portfolio, making the stock its 23rd biggest holding. Northern Financial Advisors Inc’s holdings in International Business Machines were worth $1,532,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in 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 shares of International Business Machines in the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $373,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines during the third quarter worth about $5,117,000. Finally, Nordea Investment Management AB raised its position in International Business Machines by 6.5% during 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 in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday. They issued an “outperform” rating and a $320.00 price objective on the stock. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group lifted their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” 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 eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

IBM stock opened at $259.07 on Friday. The stock has a market cap of $239.55 billion, a price-to-earnings ratio of 40.42, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The business has a fifty day moving average of $231.15 and a two-hundred day moving average of $218.49.

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

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.58%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.