Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 93 Shares of International Business Machines Co. (NYSE:IBM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,083 shares of the technology company’s stock after selling 93 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in International Business Machines were worth $1,976,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IBM. Summit Global Investments acquired a new position in International Business Machines in the third quarter valued at approximately $235,000. Ziegler Capital Management LLC lifted its holdings in International Business Machines by 0.8% in the third quarter. Ziegler Capital Management LLC now owns 21,863 shares of the technology company’s stock valued at $3,067,000 after buying an additional 172 shares during the period. GHP Investment Advisors Inc. lifted its holdings in International Business Machines by 4.1% in the third quarter. GHP Investment Advisors Inc. now owns 72,914 shares of the technology company’s stock valued at $10,096,000 after buying an additional 2,859 shares during the period. Brown Miller Wealth Management LLC lifted its holdings in International Business Machines by 46.5% in the third quarter. Brown Miller Wealth Management LLC now owns 12,644 shares of the technology company’s stock valued at $1,773,000 after buying an additional 4,015 shares during the period. Finally, Meridian Wealth Management LLC lifted its holdings in International Business Machines by 87.4% in the third quarter. Meridian Wealth Management LLC now owns 87,212 shares of the technology company’s stock valued at $12,237,000 after buying an additional 40,678 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM traded up $2.37 during midday trading on Tuesday, reaching $184.27. The stock had a trading volume of 1,533,631 shares, compared to its average volume of 4,716,106. The firm has a 50 day simple moving average of $188.38 and a 200-day simple moving average of $169.59. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The firm has a market cap of $168.93 billion, a PE ratio of 22.64, a P/E/G ratio of 3.57 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping 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 business had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $17.29 billion. During the same quarter in the previous year, the company earned $3.60 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is presently 81.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Royal Bank of Canada increased their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. UBS Group increased their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $177.23.

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.