SeaCrest Wealth Management LLC Cuts Stake in International Business Machines Co. (NYSE:IBM)

SeaCrest Wealth Management LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,191 shares of the technology company’s stock after selling 3,014 shares during the quarter. International Business Machines makes up approximately 0.6% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 24th largest holding. SeaCrest Wealth Management LLC’s holdings in International Business Machines were worth $5,124,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC acquired a new stake in shares of International Business Machines in the second quarter valued at about $28,000. Live Oak Investment Partners acquired a new position in International Business Machines during the fourth quarter worth $30,000. Briaud Financial Planning Inc purchased a new stake in International Business Machines in the 3rd quarter valued at $31,000. PCA Investment Advisory Services Inc. purchased a new position in shares of International Business Machines during the 2nd quarter worth $31,000. Finally, Stone House Investment Management LLC raised its stake in International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IBM shares. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Jefferies Financial Group began coverage on International Business Machines in a report on Friday, January 5th. They set a “hold” rating and a $180.00 price target for the company. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Royal Bank of Canada upped their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Bank of America lifted their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $176.85.

International Business Machines Price Performance

NYSE:IBM traded up $0.16 during trading hours on Friday, hitting $190.96. The company’s stock had a trading volume of 3,742,169 shares, compared to its average volume of 5,135,399. The company has a market capitalization of $175.06 billion, a PE ratio of 23.49, a PEG ratio of 3.74 and a beta of 0.70. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The business’s 50-day moving average is $186.79 and its two-hundred day moving average is $164.17. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $17.29 billion. During the same quarter last year, the business earned $3.60 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that International Business Machines Co. will post 10.07 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 81.67%.

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.