Latitude Advisors LLC Sells 174 Shares of International Business Machines Co. (NYSE:IBM)

Latitude Advisors LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 9.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,598 shares of the technology company’s stock after selling 174 shares during the quarter. Latitude Advisors LLC’s holdings in International Business Machines were worth $261,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IBM. Vontobel Holding Ltd. increased its stake in International Business Machines by 20.3% during the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after acquiring an additional 80,474 shares during the last quarter. Natixis Advisors L.P. increased its stake in International Business Machines by 18.1% during the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock worth $52,235,000 after acquiring an additional 57,170 shares during the last quarter. Herold Advisors Inc. grew its stake in shares of International Business Machines by 3.2% during the third quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock valued at $3,070,000 after buying an additional 688 shares during the last quarter. Tsfg LLC grew its stake in shares of International Business Machines by 40.5% during the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after buying an additional 109 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of International Business Machines during the third quarter valued at approximately $661,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.4 %

NYSE IBM traded up $2.50 during midday trading on Wednesday, hitting $183.75. 4,473,654 shares of the company traded hands, compared to its average volume of 3,265,758. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market cap of $168.45 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 3.55 and a beta of 0.70. The company’s 50-day simple moving average is $188.63 and its 200-day simple moving average is $168.44. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18.

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

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.61%. International Business Machines’s payout ratio is 81.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IBM shares. Royal Bank of Canada upped their target price on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Sanford C. Bernstein upped their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Societe Generale reaffirmed a “sell” rating and set a $143.00 target price on shares of International Business Machines in a research note on Friday, January 5th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $178.08.

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.